Wedge Capital Management L L P NC Sells 9,574 Shares of NMI Holdings Inc $NMIH

Key Points

• Wedge Capital Management L L P NC reduced its stake in NMI Holdings Inc by 7.4% in Q2, selling 9,574 shares, bringing its total holdings to 119,228 shares valued at approximately $5 million.
• Director Steven Scheid sold 19,926 shares at an average price of $39.31, resulting in a 20.15% decrease in his position within the company.
• Analysts have a consensus rating of Moderate Buy for NMI Holdings, with target prices ranging from $41 to $44, indicating optimism about the stock's future performance.

Wedge Capital Management L L P NC lessened its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,228 shares of the financial services provider's stock after selling 9,574 shares during the quarter. Wedge Capital Management L L P NC owned 0.15% of NMI worth $5,030,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Xponance Inc. boosted its holdings in shares of NMI by 5.0% in the 1st quarter. Xponance Inc. now owns 5,917 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 281 shares in the last quarter. Covestor Ltd boosted 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 valued at $79,000 after purchasing an additional 297 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of NMI by 5.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,051 shares of the financial services provider's stock valued at $222,000 after purchasing an additional 325 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of NMI by 5.7% in the 1st quarter. Cetera Investment Advisers now owns 6,347 shares of the financial services provider's stock valued at $229,000 after purchasing an additional 341 shares in the last quarter. Finally, Hohimer Wealth Management LLC boosted its holdings in shares of NMI by 5.6% in the 1st quarter. Hohimer Wealth Management LLC now owns 6,493 shares of the financial services provider's stock valued at $234,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company's stock.

Insider Activity

In related news, Director Steven Scheid sold 19,926 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the sale, the director directly owned 78,960 shares of the company's stock, valued at $3,103,917.60. The trade was a 20.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on NMIH. Barclays raised their price objective on NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Wall Street Zen downgraded NMI from a "buy" rating to a "hold" rating in a report 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 report on Friday, July 11th. Finally, Keefe, Bruyette & Woods downgraded 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 report on Monday, July 7th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.33.

NMI Trading Up 0.9%

NMIH traded up $0.34 during midday trading on Tuesday, hitting $39.17. 169,404 shares of the company were exchanged, compared to its average volume of 541,157. The firm has a market capitalization of $3.04 billion, a P/E ratio of 8.31, a P/E/G ratio of 1.14 and a beta of 0.55. NMI Holdings Inc has a 1-year low of $31.90 and a 1-year high of $43.20. The firm's 50 day moving average price is $38.87 and its 200-day moving average price is $37.96. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data 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 company 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%.The firm's revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. As a group, equities analysts forecast that NMI Holdings Inc will post 4.62 EPS for the current fiscal 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.