Gallacher Capital Management LLC Takes $323,000 Position in NMI Holdings Inc (NASDAQ:NMIH)

Gallacher Capital Management LLC bought a new position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,969 shares of the financial services provider's stock, valued at approximately $323,000.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of NMI by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider's stock worth $263,160,000 after buying an additional 39,503 shares in the last quarter. Assenagon Asset Management S.A. raised its position in NMI by 70.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock valued at $73,341,000 after purchasing an additional 844,037 shares during the period. American Century Companies Inc. raised its position in NMI by 8.0% during the fourth quarter. American Century Companies Inc. now owns 1,957,179 shares of the financial services provider's stock valued at $71,946,000 after purchasing an additional 145,591 shares during the period. Donald Smith & CO. Inc. raised its position in NMI by 34.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider's stock valued at $48,077,000 after purchasing an additional 337,996 shares during the period. Finally, Nuveen Asset Management LLC raised its position in NMI by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,290,675 shares of the financial services provider's stock valued at $47,445,000 after purchasing an additional 4,570 shares during the period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

NMI Trading Up 0.5%

Shares of NASDAQ NMIH traded up $0.18 during midday trading on Friday, hitting $38.24. The company's stock had a trading volume of 74,319 shares, compared to its average volume of 585,849. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $39.77 and its two-hundred day moving average is $37.26. NMI Holdings Inc has a 12-month low of $31.90 and a 12-month high of $43.20. The firm has a market cap of $2.99 billion, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 1.17 and a beta of 0.55.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.18. NMI had a return on equity of 17.27% and a net margin of 55.93%. 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 prior year, the firm earned $1.08 earnings per share. NMI's revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts expect that NMI Holdings Inc will post 4.62 EPS for the current year.

Analysts Set New Price Targets

NMIH has been the topic of a number of recent research reports. Keefe, Bruyette & Woods downgraded NMI from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Barclays upped their price objective on NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. upped their price objective on NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Compass Point restated a "buy" rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a research report on Friday, May 23rd. Finally, Wall Street Zen downgraded NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, NMI currently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Insider Buying and Selling

In related news, insider William J. Leatherberry sold 13,111 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $35.56, for a total value of $466,227.16. Following the transaction, the insider owned 163,796 shares of the company's stock, valued at $5,824,585.76. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Pollitzer sold 57,166 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $36.54, for a total value of $2,088,845.64. Following the completion of the transaction, the chief executive officer directly owned 329,465 shares in the company, valued at approximately $12,038,651.10. This trade represents a 14.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,697 shares of company stock valued at $4,210,337 over the last 90 days. 3.00% of the stock is owned by 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.