Edgestream Partners L.P. Increases Position in NMI Holdings Inc (NASDAQ:NMIH)

Edgestream Partners L.P. lifted its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 38.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 240,218 shares of the financial services provider's stock after buying an additional 67,040 shares during the period. Edgestream Partners L.P. owned approximately 0.31% of NMI worth $8,660,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NMIH. Sound Income Strategies LLC bought a new stake in shares of NMI in the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of NMI in the 1st quarter worth approximately $33,000. GAMMA Investing LLC raised its holdings in shares of NMI by 104.2% in the 1st 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 period. Covestor Ltd raised its holdings in shares of NMI by 601.1% in the 4th 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 period. Finally, Sterling Capital Management LLC raised its holdings in shares of NMI by 786.1% in the 4th 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 period. Hedge funds and other institutional investors own 94.12% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms recently commented on NMIH. Keefe, Bruyette & Woods cut 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 report on Monday, July 7th. 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 report on Friday, July 11th. Compass Point reissued a "buy" rating and set a $37.00 target price (up previously from $34.00) on shares of NMI in a report on Friday, May 23rd. Barclays boosted their target price on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen cut shares of NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $43.00.

NMI Stock Performance

NMIH stock traded up $0.23 during midday trading on Thursday, reaching $37.86. 638,639 shares of the company's stock traded hands, compared to its average volume of 558,525. The company has a 50-day moving average price of $39.72 and a two-hundred day moving average price of $37.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.74 and a current ratio of 0.74. 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 $2.96 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 1.28 and a beta of 0.55.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $173.25 million during the quarter, compared to analyst estimates of $169.04 million. NMI had a net margin of 55.93% and a return on equity of 17.27%. The business's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 EPS. As a group, equities analysts anticipate that NMI Holdings Inc will post 4.62 EPS 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.