NMI Holdings Inc (NASDAQ:NMIH) Shares Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP has significantly increased its stake in NMI Holdings Inc by 136.9%, acquiring an additional 10,800 shares for a total worth of $674,000 as per its latest SEC filing.
• NMI Holdings has received mixed ratings from analysts; while Compass Point maintained a "buy" rating with a price target increase, Wall Street Zen downgraded it from "buy" to "hold."
• In recent insider trading, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock, reducing his ownership by about 5% and leaving him with approximately 409,792 shares valued at over $16 million.

Entropy Technologies LP lifted its position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 136.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,688 shares of the financial services provider's stock after buying an additional 10,800 shares during the period. Entropy Technologies LP's holdings in NMI were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in shares of NMI during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of NMI during the 1st quarter worth approximately $33,000. Neo Ivy Capital Management purchased a new position in shares of NMI during the 1st quarter worth approximately $47,000. GAMMA Investing LLC boosted its position in shares of NMI by 104.2% during 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. Finally, Covestor Ltd boosted its position in shares of NMI by 601.1% during 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. Hedge funds and other institutional investors own 94.12% of the company's stock.

Insider Buying and Selling

In related news, Chairman Bradley M. Shuster sold 21,545 shares of NMI 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 sale, the chairman directly owned 409,792 shares in the company, valued at $16,211,371.52. This trade represents a 4.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.

NMI Stock Down 2.0%

NMIH stock traded down $0.78 during midday trading on Friday, hitting $38.97. The company's stock had a trading volume of 338,624 shares, compared to its average volume of 458,237. The firm has a market capitalization of $3.02 billion, a P/E ratio of 8.27, a PEG ratio of 1.13 and a beta of 0.57. The firm has a 50-day simple moving average of $39.63 and a 200-day simple moving average of $37.41. NMI Holdings Inc has a 52-week low of $31.90 and a 52-week high of $43.20. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $149.07 million during the quarter, compared to analysts' expectations of $173.39 million. During the same period in the previous year, the company earned $1.20 EPS. The company's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that NMI Holdings Inc will post 4.62 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NMIH shares. 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 report on Friday, July 11th. 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 report on Tuesday, July 8th. Wall Street Zen cut shares of NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Compass Point reissued a "buy" rating and issued a $37.00 price target (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods cut shares of NMI from an "outperform" rating to a "market perform" rating and raised their price target for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $42.33.

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.