NMI Holdings Inc $NMIH Shares Sold by State of Wyoming

Key Points

• The State of Wyoming reduced its stake in NMI Holdings Inc by 47.4% in Q1, leaving it with 7,417 shares valued at $267,000.
• NMI reported earnings per share of $1.22 for the last quarter, exceeding expectations, but its revenue fell short of estimates at $149.07 million.
• Analysts have mixed ratings for NMI, with three analysts giving a "buy" rating and three rating it as "hold," as the stock currently has an average price target of $42.33.

State of Wyoming decreased its position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 47.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,417 shares of the financial services provider's stock after selling 6,679 shares during the quarter. State of Wyoming's holdings in NMI were worth $267,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in shares of NMI during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of NMI during the 1st quarter worth approximately $33,000. Neo Ivy Capital Management purchased a new stake in shares of NMI during the 1st quarter worth approximately $47,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of NMI during the 1st quarter worth approximately $48,000. Finally, GAMMA Investing LLC boosted its stake in shares of NMI by 104.2% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

NMI Stock Down 0.4%

Shares of NASDAQ NMIH opened at $39.20 on Wednesday. NMI Holdings Inc has a 12-month low of $31.90 and a 12-month high of $43.20. The company has a market cap of $3.04 billion, a P/E ratio of 8.32, a P/E/G ratio of 1.14 and a beta of 0.55. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average price of $39.36 and a 200 day moving average price of $37.58.

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

Insiders Place Their Bets

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $39.56, for a total value of $852,320.20. Following the completion of the transaction, the chairman directly owned 409,792 shares of the company's stock, valued at $16,211,371.52. This represents a 4.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Want to see what other hedge funds are holding NMIH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NMI Holdings Inc (NASDAQ:NMIH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.