NMI Holdings, Inc. (NASDAQ:NMIH) Short Interest Update

NMI Holdings, Inc. (NASDAQ:NMIH - Get Free Report) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 2,030,000 shares, an increase of 18.7% from the April 30th total of 1,710,000 shares. Based on an average daily trading volume, of 675,700 shares, the short-interest ratio is currently 3.0 days. Currently, 2.7% of the company's shares are sold short.

NMI Price Performance

NMI stock traded up $0.50 during midday trading on Friday, hitting $39.81. 330,334 shares of the company's stock were exchanged, compared to its average volume of 557,078. NMI has a 52-week low of $31.60 and a 52-week high of $42.49. The stock has a 50-day moving average price of $36.36 and a two-hundred day moving average price of $36.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. The company has a market cap of $3.11 billion, a P/E ratio of 8.99, a PEG ratio of 1.41 and a beta of 0.55.

NMI (NASDAQ:NMIH - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.10 by $0.18. NMI had a return on equity of 17.33% and a net margin of 55.32%. The business had revenue of $173.25 million during the quarter, compared to analysts' expectations of $169.04 million. During the same period in the previous year, the business earned $1.08 earnings per share. The firm's revenue was up 10.8% on a year-over-year basis. On average, equities research analysts forecast that NMI will post 4.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group decreased their target price on NMI from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their price target on NMI from $43.00 to $42.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Wall Street Zen upgraded NMI from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on NMI from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Compass Point reiterated a "buy" rating and issued a $37.00 price target (up from $34.00) on shares of NMI in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, NMI presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.29.

Insider Activity

In related news, CEO Adam Pollitzer sold 57,166 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $36.54, for a total transaction of $2,088,845.64. Following the completion of the sale, the chief executive officer now owns 329,465 shares of the company's stock, valued at $12,038,651.10. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Curry Montgomery sold 1,875 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.05, for a total value of $71,343.75. Following the completion of the sale, the director now directly owns 66,068 shares of the company's stock, valued at $2,513,887.40. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,697 shares of company stock valued at $4,210,337. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On NMI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in NMI by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider's stock worth $263,160,000 after purchasing an additional 39,503 shares during the last quarter. American Century Companies Inc. lifted its stake in NMI by 9.0% during the first quarter. American Century Companies Inc. now owns 2,133,945 shares of the financial services provider's stock worth $76,929,000 after purchasing an additional 176,766 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in NMI by 70.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock worth $73,341,000 after purchasing an additional 844,037 shares during the last quarter. Millennium Management LLC lifted its stake in NMI by 209.9% during the first quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider's stock worth $51,658,000 after purchasing an additional 970,551 shares during the last quarter. Finally, Donald Smith & CO. Inc. lifted its stake in NMI by 34.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider's stock worth $48,077,000 after purchasing an additional 337,996 shares during the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

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.