Cubist Systematic Strategies LLC Sells 295,772 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Cubist Systematic Strategies LLC lowered its position in NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) by 80.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,366 shares of the financial services provider's stock after selling 295,772 shares during the period. Cubist Systematic Strategies LLC owned about 0.09% of NMI worth $2,587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NMIH. Barclays PLC raised its holdings in shares of NMI by 264.4% in the third quarter. Barclays PLC now owns 386,999 shares of the financial services provider's stock valued at $15,940,000 after purchasing an additional 280,809 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of NMI by 1.5% in the third quarter. Franklin Resources Inc. now owns 98,150 shares of the financial services provider's stock valued at $4,024,000 after purchasing an additional 1,442 shares during the last quarter. Tealwood Asset Management Inc. raised its holdings in shares of NMI by 1.2% in the fourth quarter. Tealwood Asset Management Inc. now owns 32,192 shares of the financial services provider's stock valued at $1,183,000 after purchasing an additional 376 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in NMI by 6.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 168,816 shares of the financial services provider's stock worth $6,206,000 after buying an additional 10,203 shares during the last quarter. Finally, Dakota Wealth Management increased its holdings in NMI by 8.5% during the fourth quarter. Dakota Wealth Management now owns 11,516 shares of the financial services provider's stock worth $423,000 after buying an additional 899 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

Insiders Place Their Bets

In other news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $35.44, for a total value of $38,381.52. Following the completion of the transaction, the executive vice president now directly owns 49,218 shares in the company, valued at approximately $1,744,285.92. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Leatherberry sold 13,111 shares of NMI stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $35.56, for a total transaction of $466,227.16. Following the sale, the insider now owns 163,796 shares of the company's stock, valued at approximately $5,824,585.76. The trade was a 7.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,235 shares of company stock worth $4,113,998 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NMIH has been the subject of a number of research analyst reports. StockNews.com upgraded shares of NMI from a "hold" rating to a "buy" rating in a report on Monday, May 5th. UBS Group decreased their price objective on shares of NMI from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price objective on shares of NMI from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of NMI from $43.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.17.

NMI Stock Performance

NASDAQ:NMIH traded up $0.38 on Friday, reaching $38.03. 131,374 shares of the company's stock were exchanged, compared to its average volume of 605,305. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 1.41 and a beta of 0.56. NMI Holdings, Inc. has a 52 week low of $31.59 and a 52 week high of $42.49. The stock has a fifty day simple moving average of $35.32 and a 200-day simple moving average of $36.65.

NMI (NASDAQ:NMIH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.18. The firm had revenue of $173.25 million during the quarter, compared to analyst estimates of $169.04 million. NMI had a net margin of 55.32% and a return on equity of 17.33%. The company's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $1.08 earnings per share. As a group, sell-side analysts predict that NMI Holdings, Inc. will post 4.62 earnings per share for the current year.

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.