NMI Holdings Inc $NMIH Shares Sold by Denali Advisors LLC

Key Points

• Denali Advisors LLC has reduced its stake in NMI Holdings Inc by 8.9%, now holding approximately 172,000 shares, making it the 27th largest position in their portfolio.
• Insider transactions revealed that director Steven Scheid sold nearly 20,000 shares, decreasing his holdings by 20.15% to approximately 79,000 shares.
• NMI has recorded a net margin of 55.57% for the last quarter, with earnings of $1.22 per share, surpassing analysts' estimates of $1.16.

Denali Advisors LLC lowered its stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,994 shares of the financial services provider's stock after selling 16,795 shares during the quarter. NMI comprises about 0.8% of Denali Advisors LLC's holdings, making the stock its 27th largest position. Denali Advisors LLC owned approximately 0.22% of NMI worth $7,256,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Maseco LLP purchased a new position in shares of NMI during the second quarter worth about $32,000. Neo Ivy Capital Management purchased a new stake in NMI in the 1st quarter valued at approximately $47,000. Caitong International Asset Management Co. Ltd purchased a new stake in NMI in the 1st quarter valued at approximately $48,000. Quarry LP boosted its holdings in NMI by 89.3% in the 1st quarter. Quarry LP now owns 1,482 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 699 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in NMI by 104.2% in the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 798 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

Insider Transactions at NMI

In related news, Director Steven Scheid sold 19,926 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $39.31, for a total value of $783,291.06. Following the sale, the director owned 78,960 shares of the company's stock, valued at approximately $3,103,917.60. This represents a 20.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company's stock.

NMI Price Performance

NMIH stock opened at $36.57 on Wednesday. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The stock's 50 day moving average price is $38.42 and its 200 day moving average price is $38.16. The firm has a market cap of $2.84 billion, a P/E ratio of 7.76, a PEG ratio of 1.04 and a beta of 0.56.

NMI (NASDAQ:NMIH - Get Free Report) last posted 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. NMI had a return on equity of 16.51% and a net margin of 55.57%.The firm had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. During the same quarter in the prior year, the company earned $1.20 EPS. NMI's revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays reaffirmed a "cautious" rating on shares of NMI in a report on Monday, October 6th. Keefe, Bruyette & Woods lowered 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. lowered their price objective on NMI from $44.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, October 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of NMI in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, NMI presently has an average rating of "Moderate Buy" and an average price target of $42.33.

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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