Fox Run Management L.L.C. Lowers Stock Holdings in NMI Holdings Inc $NMIH

Key Points

• Fox Run Management L.L.C. reduced its holdings in NMI Holdings Inc by 24.8%, selling 7,602 shares and bringing its ownership to 23,100 shares valued at approximately $833,000.
• Analyst ratings for NMI Holdings show mixed opinions, with Wall Street Zen lowering its rating to "hold", while JPMorgan Chase & Co. and Compass Point maintain "buy" ratings with price targets of $44.00 and $37.00, respectively.
• NMI Holdings reported a quarterly earnings per share (EPS) of $1.22, exceeding analysts' expectations, but its revenue of $149.07 million fell short of the $173.39 million consensus estimate.

Fox Run Management L.L.C. trimmed its stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 24.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,100 shares of the financial services provider's stock after selling 7,602 shares during the quarter. Fox Run Management L.L.C.'s holdings in NMI were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of NMI in the 1st quarter valued at approximately $48,000. Public Sector Pension Investment Board raised its holdings in NMI by 176.2% during the first quarter. Public Sector Pension Investment Board now owns 544,723 shares of the financial services provider's stock worth $19,637,000 after purchasing an additional 347,524 shares during the last quarter. Nuveen LLC acquired a new position in NMI during the first quarter worth $44,886,000. Virtu Financial LLC acquired a new position in NMI during the first quarter worth $244,000. Finally, Entropy Technologies LP raised its holdings in NMI by 136.9% during the first quarter. Entropy Technologies LP now owns 18,688 shares of the financial services provider's stock worth $674,000 after purchasing an additional 10,800 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NMIH shares. Wall Street Zen cut NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Compass Point reaffirmed a "buy" rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Barclays lifted their price objective on NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.33.

NMI Price Performance

NMI stock traded up $0.17 during mid-day trading on Wednesday, hitting $39.35. 117,612 shares of the company were exchanged, compared to its average volume of 568,754. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. The business's 50 day simple moving average is $39.61 and its two-hundred day simple moving average is $37.41. The company has a market capitalization of $3.05 billion, a P/E ratio of 8.35, a PEG ratio of 1.12 and a beta of 0.57. NMI Holdings Inc has a 12-month low of $31.90 and a 12-month high of $43.20.

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

Insider Activity at NMI

In other news, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock in a transaction on Friday, June 6th. The stock was sold at an average price of $39.56, for a total value of $852,320.20. Following the completion of the sale, the chairman owned 409,792 shares of the company's stock, valued at $16,211,371.52. The trade was a 4.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

About NMI

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.