Quantbot Technologies LP Has $2.24 Million Stock Position in NMI Holdings Inc $NMIH

Key Points

• Quantbot Technologies LP increased its stake in NMI Holdings Inc by 87.4%, acquiring an additional 28,987 shares during the first quarter, bringing its total ownership to approximately $2.24 million.
• Analysts from JPMorgan Chase & Co. and Barclays have raised the target price for NMI, with current consensus ratings indicating a "Moderate Buy" and an average price target of $42.33.
• Chairman Bradley M. Shuster sold 21,545 shares of NMI's stock at an average price of $39.56, resulting in a decrease of about 4.99% in his overall position.

Quantbot Technologies LP lifted its stake in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 87.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,140 shares of the financial services provider's stock after purchasing an additional 28,987 shares during the period. Quantbot Technologies LP owned 0.08% of NMI worth $2,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NMIH. Sound Income Strategies LLC bought a new position in shares of NMI in the 1st quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in shares of NMI in the 1st quarter worth $33,000. Neo Ivy Capital Management bought a new position in shares of NMI in the 1st quarter worth $47,000. Caitong International Asset Management Co. Ltd bought a new position in shares of NMI in the 1st quarter worth $48,000. Finally, GAMMA Investing LLC boosted its position in shares of NMI by 104.2% in the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock worth $56,000 after purchasing an additional 798 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors.

NMI Stock Up 2.9%

Shares of NMIH traded up $1.12 during midday trading on Friday, hitting $40.35. The stock had a trading volume of 334,665 shares, compared to its average volume of 420,311. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. The company has a 50 day simple moving average of $39.56 and a two-hundred day simple moving average of $37.43. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 1.17 and a beta of 0.57. NMI Holdings Inc has a twelve month low of $31.90 and a twelve month high of $43.20.

NMI (NASDAQ:NMIH - Get Free Report) last released 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 business had revenue of $149.07 million for the quarter, compared to the consensus estimate of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%.NMI's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. On average, analysts anticipate that NMI Holdings Inc will post 4.62 EPS for the current year.

Wall Street Analysts Forecast Growth

NMIH has been the topic of several recent analyst reports. Compass Point reiterated a "buy" rating and set a $37.00 target price (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Keefe, Bruyette & Woods lowered NMI from an "outperform" rating to a "market perform" rating and lifted their target price for the stock 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. Barclays lifted their target price on NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lifted their target price on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.33.

Insider Activity

In related news, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $39.56, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.00% of the company's stock.

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.