NMI Holdings Inc (NASDAQ:NMIH) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,730,000 shares, a growth of 20.1% from the December 15th total of 1,440,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily volume of 493,800 shares, the days-to-cover ratio is currently 3.5 days.
In related news, Chairman Bradley M. Shuster sold 25,625 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $29.11, for a total transaction of $745,943.75. Following the transaction, the chairman now directly owns 517,927 shares in the company, valued at approximately $15,076,854.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Claudia J. Merkle sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $33.58, for a total value of $402,960.00. Following the transaction, the chief executive officer now owns 122,156 shares in the company, valued at $4,101,998.48. The disclosure for this sale can be found here. Insiders have sold a total of 405,301 shares of company stock worth $13,100,179 over the last quarter. Corporate insiders own 4.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in shares of NMI in the 4th quarter worth approximately $33,000. Carroll Financial Associates Inc. bought a new stake in shares of NMI in the 4th quarter worth approximately $235,000. Ellis Investment Partners LLC lifted its stake in shares of NMI by 2.0% in the 4th quarter. Ellis Investment Partners LLC now owns 66,225 shares of the financial services provider’s stock valued at $2,137,000 after purchasing an additional 1,303 shares during the period. Metropolitan Life Insurance Co NY lifted its stake in shares of NMI by 2.8% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 21,118 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 570 shares during the period. Finally, Man Group plc lifted its stake in shares of NMI by 89.2% in the 3rd quarter. Man Group plc now owns 86,954 shares of the financial services provider’s stock valued at $2,283,000 after purchasing an additional 41,004 shares during the period. Hedge funds and other institutional investors own 90.26% of the company’s stock.
NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.09. The firm had revenue of $101.59 million for the quarter, compared to analyst estimates of $94.67 million. NMI had a return on equity of 20.63% and a net margin of 44.92%. As a group, equities analysts predict that NMI will post 2.55 EPS for the current year.
Several research firms recently issued reports on NMIH. ValuEngine lowered NMI from a “sell” rating to a “strong sell” rating in a research report on Friday, January 3rd. BidaskClub lowered NMI from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. Zacks Investment Research lowered NMI from a “buy” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group restated a “hold” rating and set a $33.00 price target on shares of NMI in a research report on Sunday, November 24th. Finally, B. Riley raised their price target on NMI from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $34.00.
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.
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