Insider Selling: NMI (NASDAQ:NMIH) Director Sells 19,926 Shares of Stock

Key Points

• Director Steven Scheid sold 19,926 shares of NMI Holdings Inc stock at an average price of $39.31, totaling approximately $783,291, which decreased his overall ownership by 20.15%.
• NMI Holdings reported $1.22 EPS for its last quarter, exceeding expectations, but its revenue of $149.07 million fell short of analyst estimates.
• Analysts maintain a consensus rating of "Moderate Buy" for NMI, with an average target price of $42.33, reflecting a mix of buy and hold ratings from several financial institutions.

NMI Holdings Inc (NASDAQ:NMIH - Get Free Report) Director Steven Scheid sold 19,926 shares of the firm's stock in a transaction on 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 transaction, the director owned 78,960 shares in the company, valued at approximately $3,103,917.60. This trade represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NMI Stock Performance

Shares of NMIH stock traded up $0.07 on Friday, reaching $39.46. The stock had a trading volume of 1,027,385 shares, compared to its average volume of 336,451. The stock has a market cap of $3.06 billion, a P/E ratio of 8.38, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The company has a 50 day simple moving average of $38.86 and a 200 day simple moving average of $37.94.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.06. The firm 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 company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the business posted $1.20 EPS. Equities research analysts expect that NMI Holdings Inc will post 4.62 EPS for the current year.

Institutional Investors Weigh In On NMI

Several hedge funds have recently added to or reduced their stakes in NMIH. PNC Financial Services Group Inc. grew its stake in shares of NMI by 4.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,661 shares of the financial services provider's stock valued at $281,000 after buying an additional 264 shares during the period. Xponance Inc. grew its stake 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 buying an additional 281 shares during the period. Covestor Ltd grew its stake 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 buying an additional 297 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake 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 buying an additional 325 shares during the period. Finally, California State Teachers Retirement System boosted its position in NMI by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 70,112 shares of the financial services provider's stock valued at $2,958,000 after buying an additional 328 shares during the period. 94.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NMIH shares. JPMorgan Chase & Co. lifted their price target on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods lowered NMI from an "outperform" rating to a "market perform" rating and boosted their target price for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Wall Street Zen lowered NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Barclays lifted their price target 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. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.33.

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.