NMI Holdings, Inc. (NASDAQ:NMIH) Short Interest Update

NMI Holdings, Inc. (NASDAQ:NMIH) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 1,260,000 shares, a decrease of 15.4% from the November 30th total of 1,490,000 shares. Based on an average daily volume of 485,600 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.6% of the shares of the stock are sold short.

NMI Trading Down 1.4 %

NMI stock traded down $0.54 during mid-day trading on Friday, hitting $36.72. 470,923 shares of the stock were exchanged, compared to its average volume of 527,827. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 0.92 and a beta of 1.10. NMI has a 12 month low of $28.67 and a 12 month high of $42.49. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $38.30 and its two-hundred day simple moving average is $38.19.

Hedge Funds Weigh In On NMI

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 265 shares in the last quarter. Quarry LP increased its stake in shares of NMI by 135.1% in the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 493 shares in the last quarter. USA Financial Formulas bought a new stake in shares of NMI in the 3rd quarter valued at $57,000. Picton Mahoney Asset Management acquired a new position in shares of NMI during the 2nd quarter valued at $63,000. Finally, Farther Finance Advisors LLC boosted its stake in NMI by 989.9% during the third quarter. Farther Finance Advisors LLC now owns 3,248 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 2,950 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NMIH. JPMorgan Chase & Co. lowered their price target on shares of NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Barclays increased their target price on NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reduced their price target on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of NMI from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, NMI presently has an average rating of “Moderate Buy” and a consensus price target of $43.14.

NMI Company Profile

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.