Algert Global LLC Purchases 66,880 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Algert Global LLC raised its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 88.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 142,141 shares of the financial services provider’s stock after acquiring an additional 66,880 shares during the period. Algert Global LLC’s holdings in NMI were worth $5,855,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NMIH. Opal Wealth Advisors LLC bought a new stake in NMI during the 2nd quarter valued at approximately $29,000. Quarry LP lifted its holdings in shares of NMI by 135.1% during the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 493 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of NMI by 57.2% during the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 265 shares during the last quarter. USA Financial Formulas purchased a new position in shares of NMI during the third quarter valued at approximately $57,000. Finally, Picton Mahoney Asset Management purchased a new position in shares of NMI during the second quarter valued at approximately $63,000. 94.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NMIH. Royal Bank of Canada lowered their target price on shares of NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Truist Financial lifted their target price on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods lifted their target price on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Finally, StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, NMI presently has a consensus rating of “Moderate Buy” and an average price target of $43.29.

NMI Price Performance

Shares of NASDAQ NMIH opened at $38.73 on Friday. NMI Holdings, Inc. has a twelve month low of $27.00 and a twelve month high of $42.49. The firm has a market cap of $3.06 billion, a P/E ratio of 8.86, a PEG ratio of 0.93 and a beta of 1.13. The company has a 50 day moving average of $39.69 and a 200 day moving average of $37.25. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19.

Insider Buying and Selling

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares in the company, valued at approximately $6,158,318.23. The trade was a 1.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.70% of the stock is owned by company insiders.

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.