GSA Capital Partners LLP Increases Stake in NMI Holdings Inc (NASDAQ:NMIH)

Key Points

• GSA Capital Partners LLP significantly increased its stake in NMI Holdings Inc by 871.2% in the first quarter, owning approximately 83,838 shares as of its latest SEC filing.
• Several institutional investors have also increased their investments, with Vanguard Group adding a 0.6% increase in the fourth quarter, now holding shares worth approximately $263 million.
• Wall Street analysts have mixed ratings on NMI, with four analysts rating it a "buy" and four a "hold", leading to an average target price of $43.00.

GSA Capital Partners LLP increased its stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 871.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,838 shares of the financial services provider's stock after acquiring an additional 75,206 shares during the quarter. NMI makes up about 0.3% of GSA Capital Partners LLP's portfolio, making the stock its 12th largest position. GSA Capital Partners LLP owned approximately 0.11% of NMI worth $3,022,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake 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 valued at $263,160,000 after buying an additional 39,503 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of NMI by 70.9% in 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 buying an additional 844,037 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in shares of NMI by 34.8% in 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 buying an additional 337,996 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of NMI by 0.4% in 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 buying an additional 4,570 shares in the last quarter. Finally, Capital World Investors raised its holdings in shares of NMI by 21.1% in the fourth quarter. Capital World Investors now owns 1,150,000 shares of the financial services provider's stock valued at $42,274,000 after purchasing an additional 200,000 shares during the last quarter. 94.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NMIH shares. Keefe, Bruyette & Woods downgraded shares of NMI from an "outperform" rating to a "market perform" rating and increased their target price for the company from $42.00 to $43.00 in a report on Monday, July 7th. Barclays increased their target price 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. increased their target price 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 downgraded shares of NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Compass Point reiterated a "buy" rating and issued a $37.00 target price (up previously from $34.00) on shares of NMI in a report on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $42.33.

NMI Stock Performance

NASDAQ NMIH traded down $0.11 during trading hours on Friday, reaching $37.21. 356,431 shares of the company were exchanged, compared to its average volume of 585,944. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The business's 50 day simple moving average is $39.73 and its 200-day simple moving average is $37.34. 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 stock has a market capitalization of $2.91 billion, a P/E ratio of 7.90, a P/E/G ratio of 1.13 and a beta of 0.55.

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 for the quarter, topping analysts' consensus estimates of $1.16 by $0.06. The firm had revenue of $149.07 million during the quarter, compared to analyst estimates of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.20 earnings per share. On average, equities research analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Insider Buying and Selling

In other NMI news, Director Michael Curry Montgomery sold 1,875 shares of NMI stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.05, for a total transaction of $71,343.75. Following the completion of the sale, the director directly owned 66,068 shares in the company, valued at $2,513,887.40. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock in a transaction that occurred on Friday, June 6th. The shares were 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. The trade was a 4.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company 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.