NMI Holdings Inc (NASDAQ:NMIH) Sees Significant Increase in Short Interest

NMI Holdings Inc (NASDAQ:NMIH) was the target of a large growth in short interest during the month of November. As of November 29th, there was short interest totalling 987,600 shares, a growth of 7.7% from the November 14th total of 916,600 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 436,800 shares, the days-to-cover ratio is presently 2.3 days.

Several equities research analysts have recently issued reports on the company. BidaskClub lowered NMI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 7th. Zacks Investment Research raised NMI from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Saturday, November 9th. Credit Suisse Group reaffirmed a “hold” rating and set a $33.00 target price on shares of NMI in a research report on Sunday, November 24th. ValuEngine lowered NMI from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, B. Riley raised their target price on NMI from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $34.00.

In other news, EVP Robert Owen Smith sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $34.31, for a total transaction of $102,930.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William J. Leatherberry sold 7,674 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $33.49, for a total value of $257,002.26. The disclosure for this sale can be found here. Insiders sold a total of 418,784 shares of company stock valued at $13,302,169 over the last three months. 4.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new stake in NMI in the 3rd quarter worth about $27,000. Ladenburg Thalmann Financial Services Inc. purchased a new stake in NMI in the 2nd quarter worth about $34,000. C M Bidwell & Associates Ltd. purchased a new stake in NMI in the 2nd quarter worth about $52,000. Point72 Hong Kong Ltd purchased a new stake in NMI in the 2nd quarter worth about $83,000. Finally, Point72 Asset Management L.P. purchased a new stake in NMI in the 2nd quarter worth about $94,000. 90.26% of the stock is owned by institutional investors.

NMIH traded up $0.05 during trading hours on Friday, hitting $33.24. The stock had a trading volume of 405,902 shares, compared to its average volume of 426,027. The company’s fifty day simple moving average is $32.23 and its 200 day simple moving average is $28.84. NMI has a 1 year low of $15.62 and a 1 year high of $34.50. The stock has a market cap of $2.29 billion, a PE ratio of 20.02 and a beta of 1.30. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.09. NMI had a return on equity of 20.63% and a net margin of 44.92%. The company had revenue of $101.59 million during the quarter, compared to analyst estimates of $94.67 million. As a group, equities analysts expect that NMI will post 2.55 EPS for the current year.

NMI Company Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, Internet-sourced lenders, and other non-bank lenders.

Recommended Story: Intrinsic Value and Stock Selection

Receive News & Ratings for NMI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NMI and related companies with MarketBeat.com's FREE daily email newsletter.