Caxton Associates LLP Takes Position in NMI Holdings Inc $NMIH

Key Points

• Caxton Associates LLP acquired a new stake in NMI Holdings Inc, purchasing 11,880 shares valued at approximately $428,000 in the first quarter.
• Wall Street analysts are optimistic about NMI Holdings, with several firms raising their price targets, leading to a consensus target price of $42.33, classified as a "Moderate Buy."
• NMI Holdings reported a quarterly earnings per share of $1.22, exceeding expectations, and showed a year-over-year revenue increase of 7.2% with a net margin of 55.57%.

Caxton Associates LLP acquired a new stake in NMI Holdings Inc (NASDAQ:NMIH - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,880 shares of the financial services provider's stock, valued at approximately $428,000.

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

Wall Street Analysts Forecast Growth

NMIH has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Barclays lifted their price target on shares of NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Wall Street Zen lowered shares of NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Compass Point reiterated a "buy" rating and set a $37.00 price target (up from $34.00) on shares of NMI in a research note on Friday, May 23rd. Finally, Keefe, Bruyette & Woods lowered shares of 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 note on Monday, July 7th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.33.

NMI Trading Down 1.6%

NASDAQ NMIH opened at $39.68 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $3.08 billion, a PE ratio of 8.42, a P/E/G ratio of 1.17 and a beta of 0.55. NMI Holdings Inc has a one year low of $31.90 and a one year high of $43.20. The firm's fifty day moving average is $38.93 and its two-hundred day moving average is $37.81.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.06. The company 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%. NMI's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 earnings per share. Analysts expect 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.

Want to see what other hedge funds are holding NMIH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NMI Holdings Inc (NASDAQ:NMIH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.