NMI Holdings Inc (NASDAQ:NMIH) Sees Significant Growth in Short Interest

NMI Holdings Inc (NASDAQ:NMIH) saw a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 1,881,526 shares, a growth of 28.0% from the January 15th total of 1,470,060 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average daily volume of 468,790 shares, the short-interest ratio is currently 4.0 days. Based on an average daily volume of 468,790 shares, the short-interest ratio is currently 4.0 days. Approximately 2.5% of the shares of the company are short sold.

NMI Price Performance

NASDAQ NMIH traded up $0.38 during trading hours on Tuesday, reaching $40.03. 402,935 shares of the company’s stock were exchanged, compared to its average volume of 505,967. The firm has a fifty day moving average of $39.79 and a 200-day moving average of $38.62. NMI has a one year low of $31.90 and a one year high of $43.20. The stock has a market cap of $3.04 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 1.10 and a beta of 0.64. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.16.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $180.74 million for the quarter, compared to analyst estimates of $180.69 million. NMI had a return on equity of 15.78% and a net margin of 55.05%.During the same quarter in the previous year, the firm earned $1.07 earnings per share. On average, equities research analysts predict that NMI will post 4.62 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael J. Embler sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $36.90, for a total transaction of $738,000.00. Following the completion of the transaction, the director owned 46,046 shares of the company’s stock, valued at approximately $1,699,097.40. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On NMI

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of NMI by 20.4% in the first quarter. Royal Bank of Canada now owns 117,065 shares of the financial services provider’s stock worth $4,221,000 after acquiring an additional 19,857 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NMI by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,684 shares of the financial services provider’s stock valued at $1,683,000 after purchasing an additional 2,030 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of NMI in the first quarter valued at approximately $256,000. Ashton Thomas Private Wealth LLC bought a new position in NMI in the 1st quarter worth approximately $203,000. Finally, Jane Street Group LLC lifted its holdings in NMI by 1,312.9% during the 1st quarter. Jane Street Group LLC now owns 224,152 shares of the financial services provider’s stock worth $8,081,000 after buying an additional 208,287 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on NMIH. JPMorgan Chase & Co. upped their price target on NMI from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Barclays boosted their price objective on NMI from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. UBS Group set a $43.00 target price on NMI in a research report on Monday, January 12th. Keefe, Bruyette & Woods raised shares of NMI from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $46.00 to $48.00 in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of NMI in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, NMI has an average rating of “Moderate Buy” and an average price target of $43.00.

NMI Company Profile

NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher?loan?to?value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk?sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.