Short Interest in NMI Holdings, Inc. (NASDAQ:NMIH) Declines By 13.9%

NMI Holdings, Inc. (NASDAQ:NMIH) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 1,420,000 shares, a decline of 13.9% from the May 31st total of 1,650,000 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average daily trading volume, of 532,100 shares, the short-interest ratio is presently 2.7 days.

NMI Stock Down 0.1 %

Shares of NMI stock traded down $0.02 during trading hours on Monday, hitting $34.02. 603,033 shares of the company’s stock traded hands, compared to its average volume of 534,553. NMI has a twelve month low of $24.83 and a twelve month high of $34.39. The company has a market cap of $2.73 billion, a PE ratio of 8.40, a PEG ratio of 1.16 and a beta of 1.09. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $32.71 and a 200-day simple moving average of $31.06.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The firm had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. NMI’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities research analysts anticipate that NMI will post 4.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on NMIH. Keefe, Bruyette & Woods raised their price objective on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. StockNews.com upgraded shares of NMI from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. UBS Group downgraded shares of NMI from a “buy” rating to a “neutral” rating and raised their target price for the company from $37.00 to $39.00 in a research note on Wednesday, May 22nd. Truist Financial upped their price target on shares of NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.56.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its holdings in shares of NMI by 426.0% in the 3rd quarter. Lazard Asset Management LLC now owns 52,255 shares of the financial services provider’s stock valued at $1,414,000 after buying an additional 42,321 shares during the period. Panagora Asset Management Inc. boosted its position in NMI by 7.5% during the 4th quarter. Panagora Asset Management Inc. now owns 497,427 shares of the financial services provider’s stock valued at $14,764,000 after purchasing an additional 34,620 shares during the period. Norges Bank acquired a new stake in NMI in the fourth quarter worth $20,006,000. Eagle Asset Management Inc. acquired a new stake in NMI in the fourth quarter worth $5,045,000. Finally, Tudor Investment Corp Et Al grew its position in shares of NMI by 223.8% during the third quarter. Tudor Investment Corp Et Al now owns 205,640 shares of the financial services provider’s stock worth $5,571,000 after acquiring an additional 142,135 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors.

About NMI

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; 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.