Caxton Associates LLP Purchases New 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 purchased a new stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,880 shares of the financial services provider's stock, valued at approximately $428,000.

Several other institutional investors have also recently made changes to their positions in NMIH. Sound Income Strategies LLC bought a new stake in NMI during the first quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in NMI during the first quarter valued at about $33,000. Neo Ivy Capital Management bought a new stake in NMI during the first quarter valued at about $47,000. Caitong International Asset Management Co. Ltd bought a new stake in NMI during the first quarter valued at about $48,000. Finally, Quarry LP boosted its position in NMI by 89.3% during the first quarter. Quarry LP now owns 1,482 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

NMI Stock Up 2.0%

Shares of NMIH traded up $0.76 during mid-day trading on Thursday, hitting $39.39. 363,667 shares of the company traded hands, compared to its average volume of 300,308. 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 Holdings Inc has a 1-year low of $31.90 and a 1-year high of $43.20. The company has a market capitalization of $3.06 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. The business has a 50 day moving average of $38.83 and a 200 day moving average of $37.88.

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

Insider Activity at NMI

In related news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the completion of the sale, the director owned 78,960 shares of the company's stock, valued at $3,103,917.60. The trade was a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

NMI 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.