6,763 Shares in NMI Holdings Inc $NMIH Purchased by Virtu Financial LLC

Key Points

• Virtu Financial LLC has acquired a $244,000 stake in NMI Holdings Inc, purchasing 6,763 shares as disclosed in a recent SEC filing.
• Several hedge funds have also increased their positions in NMI, with holdings now comprising 94.12% of the company's stock.
• Despite reporting earnings that exceeded expectations, NMI's stock is currently down 2.0%, opening at $38.97.

Virtu Financial LLC acquired a new position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,763 shares of the financial services provider's stock, valued at approximately $244,000.

Other large investors also recently modified their holdings of the company. Sound Income Strategies LLC acquired a new stake in shares of NMI during the 1st quarter worth approximately $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. GAMMA Investing LLC lifted its holdings 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 in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of NMI by 15.7% in the 1st quarter. Covestor Ltd now owns 2,190 shares of the financial services provider's stock worth $79,000 after purchasing an additional 297 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company's stock.

Insiders Place Their Bets

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 completion of the sale, the chairman owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. This trade represents a 4.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.00% of the company's stock.

Analyst Ratings Changes

NMIH has been the topic of a number of recent research reports. Compass Point reiterated a "buy" rating and issued a $37.00 target price (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and raised their price objective for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Wall Street Zen cut NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. raised their price objective on NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Barclays raised their price objective on NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, NMI presently has an average rating of "Moderate Buy" and a consensus price target of $42.33.

NMI Stock Performance

Shares of NASDAQ NMIH traded down $0.07 during mid-day trading on Thursday, reaching $39.23. 333,527 shares of the company's stock were exchanged, compared to its average volume of 426,978. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. 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 firm has a 50-day moving average price of $39.56 and a two-hundred day moving average price of $37.43.

NMI (NASDAQ:NMIH - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.06. The company had revenue of $149.07 million for the quarter, compared to analysts' expectations of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%.The business's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 EPS. Analysts predict that NMI Holdings Inc will post 4.62 EPS for the current year.

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.