AlphaQuest LLC Cuts Stock Position in NMI Holdings Inc $NMIH

AlphaQuest LLC lessened its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 48.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,461 shares of the financial services provider’s stock after selling 30,366 shares during the quarter. AlphaQuest LLC’s holdings in NMI were worth $1,370,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Maseco LLP acquired a new position in NMI during the second quarter worth $32,000. Neo Ivy Capital Management acquired a new position in NMI during the first quarter worth $47,000. Caitong International Asset Management Co. Ltd acquired a new position in NMI during the first quarter worth $48,000. Quarry LP grew its holdings in NMI by 89.3% during the first quarter. Quarry LP now owns 1,482 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 699 shares during the period. Finally, GAMMA Investing LLC grew its holdings in NMI by 104.2% in the first quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Analysts Set New Price Targets

NMIH has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of NMI in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Barclays reissued a “cautious” rating on shares of NMI in a report on Monday, October 6th. Wall Street Zen lowered NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Keefe, Bruyette & Woods lowered NMI from an “outperform” rating to a “market perform” rating and upped their target price for the company from $42.00 to $43.00 in a report on Monday, July 7th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.33.

NMI Stock Up 0.3%

Shares of NASDAQ:NMIH opened at $36.92 on Friday. The stock’s 50-day moving average price is $38.26 and its two-hundred day moving average price is $38.21. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. NMI Holdings Inc has a 12-month low of $31.90 and a 12-month high of $43.20. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 1.06 and a beta of 0.56.

NMI (NASDAQ:NMIH) last issued 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. NMI had a return on equity of 16.51% and a net margin of 55.57%.The firm had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. During the same period last year, the company earned $1.20 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that NMI Holdings Inc will post 4.62 EPS for the current year.

Insider Activity at NMI

In other news, Director Steven Scheid sold 19,926 shares of the firm’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 transaction, the director directly owned 78,960 shares in the company, valued at $3,103,917.60. This trade represents a 20.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.

NMI Company Profile

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.