Hotchkis & Wiley Capital Management LLC Sells 46,590 Shares of NMI Holdings Inc $NMIH

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in NMI Holdings Inc by 13.2%, selling 46,590 shares during the first quarter, and now holds 306,470 shares worth approximately $11 million.
• Several hedge funds have recently increased their investments in NMI, with over 94% of the stock owned by institutional investors.
• NMI Holdings reported $1.22 EPS for the last quarter, exceeding analysts' expectations, despite revenue being below forecast.

Hotchkis & Wiley Capital Management LLC decreased its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 13.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 306,470 shares of the financial services provider's stock after selling 46,590 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.39% of NMI worth $11,048,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC bought a new stake in NMI during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in shares of NMI during the first quarter valued at $33,000. Neo Ivy Capital Management bought a new stake in shares of NMI in the first quarter valued at about $47,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of NMI in the first quarter valued at about $48,000. Finally, GAMMA Investing LLC lifted its stake in NMI by 104.2% in the first quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock worth $56,000 after acquiring an additional 798 shares during the period. 94.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

NMI Price Performance

Shares of NMIH opened at $40.35 on Friday. The company has a 50 day moving average of $39.56 and a two-hundred day moving average of $37.43. 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 Holdings Inc has a twelve month low of $31.90 and a twelve month high of $43.20. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 1.17 and a beta of 0.57.

NMI (NASDAQ:NMIH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.06. The business had revenue of $149.07 million for 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%.The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. As a group, analysts predict that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the firm's stock in a transaction dated 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 approximately $16,211,371.52. This trade represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.00% of the company's stock.

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.

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