Edgestream Partners L.P. Has $8.66 Million Stake in NMI Holdings Inc (NASDAQ:NMIH)

Edgestream Partners L.P. increased its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 38.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 0.31% of NMI worth $8,660,000 as of its most recent filing with the Securities and Exchange Commission.

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

NMI Stock Performance

NASDAQ NMIH opened at $37.90 on Monday. The firm's fifty day moving average price is $39.74 and its two-hundred day moving average price is $37.18. The stock has a market cap of $2.96 billion, a PE ratio of 8.19, a PEG ratio of 1.28 and a beta of 0.55. NMI Holdings Inc has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. 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 (NASDAQ:NMIH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.18. NMI had a net margin of 55.93% and a return on equity of 17.27%. The company had revenue of $173.25 million for the quarter, compared to analysts' expectations of $169.04 million. During the same quarter in the previous year, the firm posted $1.08 earnings per share. NMI's revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts expect that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays boosted their price objective 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. Keefe, Bruyette & Woods cut shares of NMI from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $42.00 to $43.00 in a research note on Monday, July 7th. JPMorgan Chase & Co. boosted their target price on shares of NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday. Compass Point reaffirmed a "buy" rating and set a $37.00 target price (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Finally, Wall Street Zen cut shares of NMI from a "buy" rating to a "hold" rating in a research note on Saturday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Insider Buying and Selling

In related news, EVP Robert Owen Smith sold 20,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $36.58, for a total value of $731,600.00. Following the sale, the executive vice president owned 84,566 shares of the company's stock, valued at $3,093,424.28. The trade was a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William J. Leatherberry sold 13,111 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $35.56, for a total transaction of $466,227.16. Following the completion of the sale, the insider directly owned 163,796 shares in the company, valued at approximately $5,824,585.76. This represents a 7.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,697 shares of company stock valued at $4,210,337 over the last quarter. 3.00% of the stock is currently owned by company insiders.

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.

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