R Squared Ltd Purchases 1,922 Shares of NMI Holdings Inc $NMIH

R Squared Ltd grew its position in NMI Holdings Inc (NASDAQ:NMIH) by 25.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,604 shares of the financial services provider’s stock after acquiring an additional 1,922 shares during the quarter. R Squared Ltd’s holdings in NMI were worth $405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in NMIH. Maseco LLP purchased a new position in shares of NMI in the 2nd quarter worth approximately $32,000. Neo Ivy Capital Management purchased a new position in shares of NMI in the 1st quarter worth approximately $47,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of NMI in the 1st quarter worth approximately $48,000. Quarry LP boosted its holdings in shares of NMI by 89.3% in the 1st quarter. Quarry LP now owns 1,482 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 699 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of NMI by 104.2% in the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 798 shares during the period. Institutional investors own 94.12% of the company’s stock.

Insider Activity

In other news, Director Steven Scheid sold 19,926 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the transaction, the director owned 78,960 shares of the company’s stock, valued at approximately $3,103,917.60. This represents a 20.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NMIH. Wall Street Zen cut NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods cut 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. JPMorgan Chase & Co. dropped their target price on NMI from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Barclays reiterated a “cautious” rating on shares of NMI in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of NMI in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.33.

NMI Stock Performance

Shares of NMI stock opened at $36.92 on Friday. The stock’s fifty day moving average is $38.26 and its two-hundred day moving average is $38.21. The company has a market capitalization of $2.86 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. The company had revenue of $149.07 million for the quarter, compared to the consensus estimate of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%.NMI’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 EPS. As a group, analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current year.

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.