Edgestream Partners L.P. Reduces Stock Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Edgestream Partners L.P. lowered its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 56.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,456 shares of the financial services provider’s stock after selling 98,338 shares during the quarter. Edgestream Partners L.P.’s holdings in NMI were worth $3,067,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Algert Global LLC increased its position in shares of NMI by 88.9% in the third quarter. Algert Global LLC now owns 142,141 shares of the financial services provider’s stock valued at $5,855,000 after buying an additional 66,880 shares in the last quarter. Leeward Investments LLC MA increased its position in NMI by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 306,985 shares of the financial services provider’s stock worth $10,450,000 after purchasing an additional 16,295 shares in the last quarter. Panagora Asset Management Inc. increased its position in NMI by 5.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 526,287 shares of the financial services provider’s stock worth $17,915,000 after purchasing an additional 29,040 shares in the last quarter. Assenagon Asset Management S.A. increased its position in NMI by 38.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,942,428 shares of the financial services provider’s stock worth $80,009,000 after purchasing an additional 534,818 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in NMI during the 2nd quarter worth about $790,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NMIH. Royal Bank of Canada dropped their price objective on NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on NMI from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Barclays lifted their price objective on NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, StockNews.com cut NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, NMI currently has an average rating of “Moderate Buy” and an average target price of $43.29.

NMI Stock Performance

NASDAQ NMIH opened at $39.99 on Monday. The firm has a market capitalization of $3.16 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.98 and a beta of 1.13. NMI Holdings, Inc. has a 1-year low of $27.25 and a 1-year high of $42.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day simple moving average is $39.55 and its 200-day simple moving average is $37.53.

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.