Hotchkis & Wiley Capital Management LLC Has $11.05 Million Stake in 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 cut its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 13.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 quarter.

A number of other institutional investors have also recently bought and sold shares of NMIH. AlphaQuest LLC raised its stake in shares of NMI by 83.8% during the 1st quarter. AlphaQuest LLC now owns 62,827 shares of the financial services provider's stock worth $2,265,000 after purchasing an additional 28,637 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of NMI during the 1st quarter worth about $624,000. Credit Agricole S A raised its stake in shares of NMI by 4.2% during the 1st quarter. Credit Agricole S A now owns 88,869 shares of the financial services provider's stock worth $3,204,000 after purchasing an additional 3,577 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of NMI by 87.4% during the 1st quarter. Quantbot Technologies LP now owns 62,140 shares of the financial services provider's stock worth $2,240,000 after purchasing an additional 28,987 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of NMI by 0.7% during the 1st quarter. Algert Global LLC now owns 204,179 shares of the financial services provider's stock worth $7,361,000 after purchasing an additional 1,440 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NMI

In other news, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $39.56, for a total transaction of $852,320.20. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

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

NMI Stock Performance

NASDAQ NMIH traded up $0.26 during trading on Friday, hitting $39.59. The company's stock had a trading volume of 45,118 shares, compared to its average volume of 556,520. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $39.50 and a 200 day moving average price of $37.49. The firm has a market cap of $3.07 billion, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 1.15 and a beta of 0.57. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data 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. NMI had a return on equity of 16.51% and a net margin of 55.57%.The company had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. During the same quarter last year, the firm earned $1.20 EPS. NMI's revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

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.