Sciencast Management LP Purchases New Position in NMI Holdings Inc $NMIH

Key Points

• Sciencast Management LP has invested approximately $529,000 in NMI Holdings Inc, purchasing 14,680 shares of the company during the first quarter.
• NMI Holdings reported $1.22 earnings per share for the last quarter, surpassing analyst expectations, although its revenue of $149.07 million fell short of estimates.
• Recent analyst ratings have resulted in a target price range for NMIH between $37.00 and $44.00, with a consensus rating of "Moderate Buy."

Sciencast Management LP bought a new stake in NMI Holdings Inc (NASDAQ:NMIH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,680 shares of the financial services provider's stock, valued at approximately $529,000.

Other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in NMI by 5.2% during the fourth quarter. Stifel Financial Corp now owns 14,688 shares of the financial services provider's stock valued at $540,000 after buying an additional 721 shares during the period. BNP Paribas Financial Markets raised its stake in NMI by 13.3% in the fourth quarter. BNP Paribas Financial Markets now owns 127,132 shares of the financial services provider's stock worth $4,673,000 after buying an additional 14,908 shares in the last quarter. Bank of America Corp DE raised its stake in NMI by 3.0% in the fourth quarter. Bank of America Corp DE now owns 527,652 shares of the financial services provider's stock worth $19,396,000 after buying an additional 15,273 shares in the last quarter. Cetera Investment Advisers raised its stake in NMI by 8.6% in the fourth quarter. Cetera Investment Advisers now owns 6,006 shares of the financial services provider's stock worth $221,000 after buying an additional 476 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in NMI in the fourth quarter worth about $2,161,000. Institutional investors own 94.12% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NMIH. JPMorgan Chase & Co. increased their price target on shares of NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen downgraded shares of NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Compass Point reaffirmed a "buy" rating and set a $37.00 target price (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Barclays raised their target price on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods downgraded shares of NMI from an "outperform" rating to a "market perform" rating and raised their target price for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, NMI currently has an average rating of "Moderate Buy" and a consensus price target of $42.33.

NMI Stock Down 1.6%

Shares of NMIH traded down $0.66 on Friday, hitting $39.68. 240,103 shares of the stock traded hands, compared to its average volume of 297,079. The company has a market capitalization of $3.08 billion, a PE ratio of 8.42, a P/E/G ratio of 1.15 and a beta of 0.55. 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 business has a 50 day simple moving average of $38.93 and a 200 day simple moving average of $37.84. NMI Holdings Inc has a one year low of $31.90 and a one year high of $43.20.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. The company had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. As a group, equities analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

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.