Assenagon Asset Management S.A. raised its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH – Free Report) by 38.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,942,428 shares of the financial services provider’s stock after purchasing an additional 534,818 shares during the quarter. Assenagon Asset Management S.A. owned 2.42% of NMI worth $80,009,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in NMI by 57.2% in the 3rd quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 265 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of NMI in the second quarter worth approximately $29,000. Quarry LP boosted its holdings in shares of NMI by 135.1% during the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 493 shares during the period. Fidelis Capital Partners LLC purchased a new position in NMI during the first quarter valued at approximately $31,000. Finally, USA Financial Formulas acquired a new position in NMI in the 3rd quarter valued at approximately $57,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.
NMI Stock Performance
NMIH traded down $0.20 on Thursday, hitting $39.29. The company had a trading volume of 82,731 shares, compared to its average volume of 531,720. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67. The company’s fifty day moving average price is $40.46 and its 200 day moving average price is $36.17. NMI Holdings, Inc. has a 1-year low of $26.41 and a 1-year high of $42.49.
Insider Buying and Selling at NMI
In related news, insider William J. Leatherberry sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider William J. Leatherberry sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the transaction, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Embler sold 26,008 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the completion of the sale, the director now directly owns 61,607 shares of the company’s stock, valued at approximately $2,424,235.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on NMIH. Royal Bank of Canada raised shares of NMI from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $48.00 in a research note on Wednesday, September 18th. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods raised their price target on NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Barclays raised their price objective on shares of NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.43.
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.
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