NMI Holdings, Inc. (NASDAQ:NMIH) Short Interest Down 13.9% in June

NMI Holdings, Inc. (NASDAQ:NMIH) saw a large drop in short interest in June. As of June 15th, there was short interest totalling 1,420,000 shares, a drop of 13.9% from the May 31st total of 1,650,000 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average trading volume of 532,100 shares, the days-to-cover ratio is presently 2.7 days.

NMI Stock Performance

Shares of NMIH traded down $0.02 during mid-day trading on Monday, hitting $34.02. 603,033 shares of the company traded hands, compared to its average volume of 534,553. NMI has a 1 year low of $24.83 and a 1 year high of $34.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 8.40, a P/E/G ratio of 1.16 and a beta of 1.09. The stock has a 50-day moving average price of $32.71 and a two-hundred day moving average price of $31.06.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.12. The company had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $133.76 million. NMI had a net margin of 56.26% and a return on equity of 18.09%. NMI’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share. Equities analysts anticipate that NMI will post 4.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

NMIH has been the topic of several research reports. Truist Financial boosted their price objective on shares of NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. UBS Group lowered NMI from a “buy” rating to a “neutral” rating and raised their price objective for the company from $37.00 to $39.00 in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. boosted their target price on NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Compass Point increased their target price on NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods lifted their price target on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.56.

Hedge Funds Weigh In On NMI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital International Investors bought a new position in shares of NMI during the 1st quarter valued at approximately $32,270,000. Goldentree Asset Management LP bought a new position in NMI during the first quarter valued at $22,600,000. Norges Bank purchased a new position in shares of NMI in the 4th quarter worth $20,006,000. Assenagon Asset Management S.A. increased its holdings in shares of NMI by 88.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider’s stock worth $25,523,000 after buying an additional 402,793 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of NMI by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock valued at $231,818,000 after buying an additional 358,930 shares in the last quarter. 94.12% of the stock is owned by 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.