Interval Partners LP Buys 38,331 Shares of NMI Holdings Inc $NMIH

Key Points

• Interval Partners LP has significantly increased its stake in NMI Holdings Inc by 104.9%, acquiring a total of 74,866 shares worth approximately $2.7 million.
• Wall Street analysts have provided a mixed outlook for NMI, with a consensus rating of "Moderate Buy" and a price target of $42.33, though individual reviews vary from "buy" to "hold."
• NMI reported $1.22 earnings per share (EPS) for the last quarter, exceeding analyst estimates, with revenue increasing by 7.2% year-over-year despite falling short of expectations.

Interval Partners LP increased its position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 104.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,866 shares of the financial services provider's stock after buying an additional 38,331 shares during the quarter. Interval Partners LP owned 0.10% of NMI worth $2,699,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in NMI by 16.8% during the first quarter. AQR Capital Management LLC now owns 281,115 shares of the financial services provider's stock valued at $10,134,000 after purchasing an additional 40,529 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in NMI during the first quarter valued at approximately $4,161,000. EP Wealth Advisors LLC acquired a new stake in NMI during the first quarter valued at approximately $340,000. Cubist Systematic Strategies LLC boosted its holdings in NMI by 270.6% during the first quarter. Cubist Systematic Strategies LLC now owns 260,763 shares of the financial services provider's stock valued at $9,401,000 after purchasing an additional 190,397 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in NMI by 20.4% during the first quarter. Royal Bank of Canada now owns 117,065 shares of the financial services provider's stock valued at $4,221,000 after purchasing an additional 19,857 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Stock Performance

Shares of NMIH stock traded up $0.15 on Wednesday, reaching $39.63. The stock had a trading volume of 383,997 shares, compared to its average volume of 549,362. 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's 50-day moving average is $39.12 and its two-hundred day moving average is $37.74. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 8.41, a P/E/G ratio of 1.15 and a beta of 0.55. 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 issued its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.06. The company had revenue of $149.07 million for the quarter, compared to analysts' expectations of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. NMI's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 EPS. On average, research analysts expect that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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