Longboard Asset Management LP Purchases New Position in NMI Holdings Inc $NMIH

Longboard Asset Management LP purchased a new stake in shares of NMI Holdings Inc (NASDAQ:NMIH) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 5,171 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Xponance Inc. grew its holdings in shares of NMI by 5.0% during the 1st quarter. Xponance Inc. now owns 5,917 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 281 shares during the last quarter. Covestor Ltd grew its holdings in shares of NMI by 15.7% during the 1st quarter. Covestor Ltd now owns 2,190 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 297 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in NMI by 5.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,051 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 325 shares during the last quarter. Cetera Investment Advisers grew its holdings in NMI by 5.7% during the 1st quarter. Cetera Investment Advisers now owns 6,347 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 341 shares during the last quarter. Finally, Hohimer Wealth Management LLC grew its holdings in NMI by 5.6% during the 1st quarter. Hohimer Wealth Management LLC now owns 6,493 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 344 shares during the last quarter. 94.12% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Steven Scheid sold 19,926 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the sale, the director owned 78,960 shares in the company, valued at $3,103,917.60. This represents a 20.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by insiders.

NMI Stock Performance

NASDAQ NMIH opened at $38.63 on Thursday. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market cap 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 fifty day moving average price of $38.81 and a 200-day moving average price of $37.86.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NMIH shares. Barclays boosted their target price on shares of NMI from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Compass Point reissued a “buy” rating and set a $37.00 target price (up from $34.00) on shares of NMI in a report on Friday, May 23rd. JPMorgan Chase & Co. boosted their target price on shares of NMI from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Keefe, Bruyette & Woods lowered shares of NMI from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Finally, Wall Street Zen lowered shares of NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.33.

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.