Short Interest in NMI Holdings Inc (NMIH) Grows By 275.8%

NMI Holdings Inc (NASDAQ:NMIH) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,762,100 shares, a growth of 275.8% from the October 13th total of 734,987 shares. Based on an average daily volume of 1,347,205 shares, the short-interest ratio is presently 2.1 days. Approximately 4.8% of the company’s shares are short sold.

Several brokerages recently commented on NMIH. B. Riley reiterated a “buy” rating on shares of NMI Holdings in a report on Monday, November 6th. BTIG Research reissued a “buy” rating and issued a $17.00 price objective on shares of NMI Holdings in a research report on Sunday, November 5th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $19.50 price objective on shares of NMI Holdings in a research report on Friday, November 3rd. Deutsche Bank AG cut shares of NMI Holdings from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Friday, November 3rd. Finally, Compass Point boosted their price objective on shares of NMI Holdings from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.93.

In related news, VP Julie Norberg sold 16,600 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $16.73, for a total transaction of $277,718.00. Following the transaction, the vice president now directly owns 32,305 shares in the company, valued at approximately $540,462.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William J. Leatherberry purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average price of $10.65 per share, for a total transaction of $53,250.00. The disclosure for this purchase can be found here. Corporate insiders own 5.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NMIH. American International Group Inc. lifted its position in shares of NMI Holdings by 7.1% in the 1st quarter. American International Group Inc. now owns 30,430 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 2,022 shares during the period. California Public Employees Retirement System purchased a new stake in shares of NMI Holdings in the 1st quarter worth approximately $239,000. Vanguard Group Inc. lifted its position in shares of NMI Holdings by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 2,330,204 shares of the financial services provider’s stock worth $26,565,000 after purchasing an additional 179,396 shares during the period. Geode Capital Management LLC lifted its position in shares of NMI Holdings by 8.4% in the 1st quarter. Geode Capital Management LLC now owns 450,993 shares of the financial services provider’s stock worth $5,141,000 after purchasing an additional 35,013 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of NMI Holdings by 22.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,998,134 shares of the financial services provider’s stock worth $22,778,000 after purchasing an additional 360,867 shares during the period. 82.21% of the stock is owned by hedge funds and other institutional investors.

Shares of NMI Holdings (NASDAQ NMIH) opened at $16.02 on Tuesday. The stock has a market cap of $948.52, a PE ratio of 27.72 and a beta of 0.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.24 and a quick ratio of 0.24. NMI Holdings has a 52-week low of $8.55 and a 52-week high of $17.08.

NMI Holdings (NASDAQ:NMIH) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. NMI Holdings had a net margin of 51.80% and a return on equity of 6.95%. The company had revenue of $48.95 million during the quarter, compared to analysts’ expectations of $45.79 million. During the same period in the previous year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 37.8% on a year-over-year basis. equities research analysts anticipate that NMI Holdings will post 0.56 earnings per share for the current year.

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NMI Holdings Company Profile

NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).

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