Cubist Systematic Strategies LLC Has $9.40 Million Position in NMI Holdings Inc $NMIH

Key Points

• Cubist Systematic Strategies LLC increased its stake in NMI Holdings Inc by 270.6%, owning 260,763 shares worth approximately $9.40 million as of the latest SEC filing.
• NMI Holdings reported $1.22 EPS for the last quarter, surpassing estimates, with a revenue of $149.07 million, although below consensus expectations.
• Analysts have mixed ratings for NMI, with three ratings of Buy and three of Hold, and a consensus price target of $42.33.

Cubist Systematic Strategies LLC grew its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 270.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,763 shares of the financial services provider's stock after purchasing an additional 190,397 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.33% of NMI worth $9,401,000 as of its most recent filing with the Securities and Exchange Commission.

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

NMI Stock Up 0.1%

NASDAQ:NMIH opened at $39.35 on Tuesday. The firm's 50 day simple moving average is $39.42 and its 200 day simple moving average is $37.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. NMI Holdings Inc has a one year low of $31.90 and a one year high of $43.20. The company has a market cap of $3.05 billion, a PE ratio of 8.35, a P/E/G ratio of 1.14 and a beta of 0.55.

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 business had revenue of $149.07 million for the quarter, compared to the consensus estimate of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The firm's revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS. On average, research analysts anticipate that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at NMI

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $39.56, for a total transaction of $852,320.20. Following the completion of the sale, the chairman owned 409,792 shares in the company, valued at approximately $16,211,371.52. The trade was a 4.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.

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.