Steven Scheid Sells 19,926 Shares of NMI (NASDAQ:NMIH) Stock

NMI Holdings Inc (NASDAQ:NMIH) Director Steven Scheid sold 19,926 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were 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 represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NMI Price Performance

Shares of NMIH stock opened at $38.63 on Thursday. NMI Holdings Inc has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 1.11 and a beta of 0.55. 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 stock’s 50-day simple moving average is $38.81 and its 200-day simple moving average is $37.86.

NMI (NASDAQ:NMIH) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The company had revenue of $149.07 million during the quarter, compared to analysts’ expectations of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. NMI’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. As a group, equities analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in shares of NMI by 191.1% during the second quarter. Osaic Holdings Inc. now owns 4,587 shares of the financial services provider’s stock worth $177,000 after buying an additional 3,011 shares in the last quarter. Kestra Investment Management LLC boosted its position in NMI by 1,520.4% during the second quarter. Kestra Investment Management LLC now owns 5,412 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 5,078 shares during the last quarter. Public Sector Pension Investment Board boosted its position in NMI by 4.1% during the second quarter. Public Sector Pension Investment Board now owns 567,106 shares of the financial services provider’s stock worth $23,926,000 after acquiring an additional 22,383 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in NMI by 2.9% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 83,518 shares of the financial services provider’s stock worth $3,526,000 after purchasing an additional 2,362 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in NMI by 151.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,261 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 6,784 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NMIH. Compass Point reiterated a “buy” rating and set a $37.00 price target (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their target price on NMI from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Wall Street Zen downgraded NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods downgraded NMI from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Finally, Barclays raised their price target on shares of NMI from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, NMI presently has an average 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.