34,018 Shares in NMI Holdings Inc $NMIH Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC recently acquired 34,018 shares of NMI Holdings Inc, valued at approximately $1,224,000, during the 1st quarter of 2023.
• NMI Holdings Inc reported $1.22 EPS for the last quarter, surpassing analysts' expectations, while its revenue increased by 7.2% compared to the same period last year.
• Insider trading was noted with Director Steven Scheid selling 19,926 shares at an average price of $39.31, reducing his ownership by 20.15%.

Acadian Asset Management LLC bought a new stake in NMI Holdings Inc (NASDAQ:NMIH - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 34,018 shares of the financial services provider's stock, valued at approximately $1,224,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC bought a new position in NMI in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in NMI in the 1st quarter valued at about $33,000. Neo Ivy Capital Management bought a new position in NMI in the 1st quarter valued at about $47,000. Caitong International Asset Management Co. Ltd bought a new position in NMI in the 1st quarter valued at about $48,000. Finally, Quarry LP raised its holdings in NMI by 89.3% in the 1st quarter. Quarry LP now owns 1,482 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 699 shares during the period. 94.12% of the stock is owned by institutional investors.

NMI Stock Performance

Shares of NMIH traded up $0.07 during mid-day trading on Friday, hitting $39.46. 1,027,385 shares of the company's stock were exchanged, compared to its average volume of 336,451. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. The stock's 50-day simple moving average is $38.86 and its 200-day simple moving average is $37.94. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 8.38, a price-to-earnings-growth ratio of 1.14 and a beta of 0.55. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. The business had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. On average, equities research analysts expect that NMI Holdings Inc will post 4.62 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen cut shares of NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods cut shares of NMI from an "outperform" rating to a "market perform" rating and increased their price target for the company from $42.00 to $43.00 in a report on Monday, July 7th. JPMorgan Chase & Co. increased their price target on shares of NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Barclays increased their price target on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.33.

Insider Activity

In related news, Director Steven Scheid sold 19,926 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $39.31, for a total transaction of $783,291.06. Following the sale, the director owned 78,960 shares in the company, valued at approximately $3,103,917.60. This trade represents a 20.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.00% of the company's stock.

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.