NMI Holdings, Inc. (NASDAQ:NMIH) Sees Large Drop in Short Interest

NMI Holdings, Inc. (NASDAQ:NMIH - Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,370,000 shares, a decrease of 23.5% from the March 15th total of 1,790,000 shares. Based on an average daily trading volume, of 565,700 shares, the short-interest ratio is currently 2.4 days. Approximately 1.7% of the company's stock are short sold.

NMI Trading Down 0.3 %

Shares of NASDAQ NMIH traded down $0.08 during mid-day trading on Friday, hitting $29.87. The company's stock had a trading volume of 405,534 shares, compared to its average volume of 614,431. The company's fifty day simple moving average is $30.29 and its 200-day simple moving average is $29.15. NMI has a one year low of $22.22 and a one year high of $32.50. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.73 and a quick ratio of 0.73.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.06. NMI had a net margin of 55.63% and a return on equity of 17.97%. The business had revenue of $151.38 million for the quarter, compared to analyst estimates of $131.70 million. During the same quarter last year, the firm earned $0.86 EPS. NMI's quarterly revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts anticipate that NMI will post 4.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Nicholas Daniel Realmuto sold 1,249 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $30.23, for a total value of $37,757.27. Following the transaction, the vice president now owns 10,455 shares in the company, valued at $316,054.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total transaction of $93,570.00. Following the completion of the sale, the executive vice president now owns 82,612 shares of the company's stock, valued at $2,576,668.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Nicholas Daniel Realmuto sold 1,249 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $30.23, for a total value of $37,757.27. Following the sale, the vice president now directly owns 10,455 shares of the company's stock, valued at approximately $316,054.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,158 shares of company stock worth $4,395,582. Insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new position in NMI during the 4th quarter worth approximately $27,000. Point72 Hong Kong Ltd acquired a new stake in NMI during the 1st quarter worth approximately $33,000. Quarry LP acquired a new stake in NMI during the 2nd quarter worth approximately $34,000. TFO Wealth Partners LLC raised its holdings in NMI by 24,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider's stock worth $37,000 after buying an additional 1,225 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in NMI by 45.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,013 shares of the financial services provider's stock worth $41,000 after buying an additional 627 shares during the period. Institutional investors own 94.12% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com cut NMI from a "buy" rating to a "hold" rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. increased their price objective on shares of NMI from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on shares of NMI from $31.00 to $33.00 and gave the stock a "sector perform" rating in a report on Thursday, February 15th. Keefe, Bruyette & Woods increased their price objective on shares of NMI from $33.00 to $36.00 and gave the stock a "market perform" rating in a report on Thursday, April 4th. Finally, Truist Financial increased their price objective on shares of NMI from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $34.44.

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.