Dark Forest Capital Management LP Invests $4.16 Million in NMI Holdings Inc $NMIH

Key Points

• Dark Forest Capital Management LP invested approximately $4.16 million in NMI Holdings Inc, purchasing 115,430 shares during the first quarter.
• Insider Chairman Bradley M. Shuster sold 21,545 shares for over $852,000, reducing his ownership by 4.99%.
• Analysts have set a consensus target price of $42.33 for NMI, with recent upgrades from Barclays, JPMorgan Chase & Co., and Compass Point.

Dark Forest Capital Management LP purchased a new position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 115,430 shares of the financial services provider's stock, valued at approximately $4,161,000. Dark Forest Capital Management LP owned about 0.15% of NMI as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. EP Wealth Advisors LLC bought a new position in shares of NMI during the first quarter worth about $340,000. Cubist Systematic Strategies LLC lifted its position in shares of NMI by 270.6% during the first quarter. Cubist Systematic Strategies LLC now owns 260,763 shares of the financial services provider's stock worth $9,401,000 after purchasing an additional 190,397 shares during the last quarter. Royal Bank of Canada lifted its position in shares of NMI by 20.4% during the first quarter. Royal Bank of Canada now owns 117,065 shares of the financial services provider's stock worth $4,221,000 after purchasing an additional 19,857 shares during the last quarter. Graham Capital Management L.P. lifted its position in shares of NMI by 11.4% during the first quarter. Graham Capital Management L.P. now owns 42,620 shares of the financial services provider's stock worth $1,536,000 after purchasing an additional 4,370 shares during the last quarter. Finally, Quarry LP lifted its position in shares of NMI by 89.3% during the first quarter. Quarry LP now owns 1,482 shares of the financial services provider's stock worth $53,000 after purchasing an additional 699 shares during the last quarter. Institutional investors own 94.12% of the company's stock.

Insider Activity at NMI

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $39.56, for a total value of $852,320.20. Following the sale, the chairman owned 409,792 shares in the company, valued at approximately $16,211,371.52. This trade represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NMIH shares. Barclays increased their price objective 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. JPMorgan Chase & Co. increased their price objective 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. Compass Point reiterated a "buy" rating and set a $37.00 price objective (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Keefe, Bruyette & Woods lowered 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 note on Monday, July 7th. Finally, Wall Street Zen lowered shares of NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Three 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.33.

NMI Price Performance

Shares of NASDAQ:NMIH opened at $39.20 on Wednesday. The firm's 50 day moving average is $39.36 and its two-hundred day moving average is $37.58. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. The firm has a market capitalization of $3.04 billion, a P/E ratio of 8.32, a PEG ratio of 1.14 and a beta of 0.55. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17.

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

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.

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