Denali Advisors LLC Raises Position in NMI Holdings Inc (NASDAQ:NMIH)

Denali Advisors LLC grew its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,789 shares of the financial services provider's stock after buying an additional 13,071 shares during the quarter. NMI comprises 0.8% of Denali Advisors LLC's investment portfolio, making the stock its 26th biggest holding. Denali Advisors LLC owned 0.24% of NMI worth $6,806,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NMIH. Sound Income Strategies LLC acquired a new position in NMI during the first quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in NMI during the first quarter worth $33,000. GAMMA Investing LLC raised its holdings in NMI by 104.2% during the first quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock worth $56,000 after purchasing an additional 798 shares during the last quarter. Covestor Ltd raised its holdings in NMI by 601.1% during the fourth quarter. Covestor Ltd now owns 1,893 shares of the financial services provider's stock worth $70,000 after purchasing an additional 1,623 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in NMI by 786.1% during the fourth quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $84,000 after purchasing an additional 2,036 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NMI news, Director Michael Curry Montgomery sold 1,875 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total transaction of $71,343.75. Following the completion of the sale, the director owned 66,068 shares of the company's stock, valued at approximately $2,513,887.40. The trade was a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William J. Leatherberry sold 13,111 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $35.56, for a total value of $466,227.16. Following the sale, the insider directly owned 163,796 shares of the company's stock, valued at approximately $5,824,585.76. This trade represents a 7.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,697 shares of company stock valued at $4,210,337. 3.00% of the stock is currently owned by company insiders.

NMI Trading Up 0.4%

Shares of NASDAQ:NMIH traded up $0.15 during midday trading on Friday, reaching $38.01. The company's stock had a trading volume of 590,467 shares, compared to its average volume of 558,164. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 1.16 and a beta of 0.55. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.18. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The business has a 50 day moving average price of $39.73 and a 200 day moving average price of $37.22.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.18. The business had revenue of $173.25 million during the quarter, compared to the consensus estimate of $169.04 million. NMI had a return on equity of 17.27% and a net margin of 55.93%. The business's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share. Research analysts forecast that NMI Holdings Inc will post 4.62 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on NMIH. Wall Street Zen cut NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and boosted their price target for the stock from $42.00 to $43.00 in a report on Monday, July 7th. JPMorgan Chase & Co. boosted their price target on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Barclays boosted 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. Finally, Compass Point reissued a "buy" rating and issued a $37.00 price target (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

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.