NMI Holdings Inc $NMIH Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its stake in NMI Holdings Inc by 83.8%, now owning a total of 62,827 shares valued at $2.26 million after purchasing 28,637 additional shares in the first quarter.
• Wall Street analysts have mixed ratings on NMIH, with Barclays increasing its price target to $42.00, while others have downgraded it to hold positions, resulting in an average rating of "Moderate Buy" and a target of $42.33.
• NMI Holdings reported earnings of $1.22 EPS for the last quarter, surpassing estimates, but with revenue of $149.07 million, falling short of the consensus expectation of $173.39 million.

AlphaQuest LLC increased its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 83.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,827 shares of the financial services provider's stock after buying an additional 28,637 shares during the quarter. AlphaQuest LLC owned 0.08% of NMI worth $2,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NMIH. Nuveen LLC purchased a new position in NMI during the 1st quarter worth $44,886,000. Assenagon Asset Management S.A. grew its stake in NMI by 70.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock worth $73,341,000 after buying an additional 844,037 shares during the last quarter. Public Sector Pension Investment Board grew its stake in NMI by 176.2% during the 1st quarter. Public Sector Pension Investment Board now owns 544,723 shares of the financial services provider's stock worth $19,637,000 after buying an additional 347,524 shares during the last quarter. Aberdeen Group plc grew its stake in NMI by 134.2% during the 1st quarter. Aberdeen Group plc now owns 517,515 shares of the financial services provider's stock worth $18,656,000 after buying an additional 296,557 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in NMI by 9.0% during the 1st quarter. American Century Companies Inc. now owns 2,133,945 shares of the financial services provider's stock worth $76,929,000 after acquiring an additional 176,766 shares during the period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NMI

In other news, Chairman Bradley M. Shuster sold 21,545 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $39.56, for a total transaction of $852,320.20. Following the sale, the chairman directly owned 409,792 shares in the company, valued at $16,211,371.52. This trade represents a 4.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is owned by company insiders.

NMI Stock Performance

NMI stock traded up $1.12 during midday trading on Friday, hitting $40.35. 334,665 shares of the company were exchanged, compared to its average volume of 413,459. The firm has a market capitalization of $3.13 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 1.17 and a beta of 0.57. NMI Holdings Inc has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. The business has a fifty day simple moving average of $39.56 and a two-hundred day simple moving average of $37.42. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74.

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

Analyst Ratings Changes

A number of analysts have commented on the company. Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and lifted their price target for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. Barclays lifted their price target on NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Wall Street Zen cut NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. lifted their price target on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Compass Point reaffirmed a "buy" rating and set a $37.00 price target (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, NMI currently has an average rating of "Moderate Buy" and an average price target of $42.33.

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.