Falcon Point Capital LLC Cuts Holdings in NMI Holdings Inc (NASDAQ:NMIH)

Falcon Point Capital LLC reduced its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH) by 26.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,885 shares of the financial services provider’s stock after selling 6,734 shares during the quarter. Falcon Point Capital LLC’s holdings in NMI were worth $536,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NMIH. Ellis Investment Partners LLC raised its position in NMI by 2,203.8% in the first quarter. Ellis Investment Partners LLC now owns 1,384,458 shares of the financial services provider’s stock valued at $1,384,000 after purchasing an additional 1,324,364 shares during the last quarter. FMR LLC raised its position in shares of NMI by 44.8% during the first quarter. FMR LLC now owns 2,501,047 shares of the financial services provider’s stock worth $64,702,000 after acquiring an additional 773,781 shares during the last quarter. Norges Bank bought a new position in shares of NMI during the fourth quarter worth about $13,216,000. Victory Capital Management Inc. bought a new position in shares of NMI during the first quarter worth about $5,914,000. Finally, Penserra Capital Management LLC bought a new position in shares of NMI during the first quarter worth about $4,820,000. Institutional investors and hedge funds own 91.56% of the company’s stock.

A number of brokerages have recently issued reports on NMIH. ValuEngine downgraded NMI from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. B. Riley set a $30.00 target price on NMI and gave the stock a “hold” rating in a research note on Friday, August 2nd. SunTrust Banks began coverage on NMI in a research note on Thursday, April 18th. They set a “buy” rating and a $34.00 target price for the company. Zacks Investment Research raised NMI from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Friday, July 26th. Finally, BTIG Research set a $36.00 price objective on NMI and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $30.63.

Shares of NMIH opened at $27.07 on Friday. The firm has a market cap of $1.86 billion, a PE ratio of 16.31 and a beta of 1.29. The stock’s fifty day moving average price is $27.18 and its two-hundred day moving average price is $26.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.43 and a quick ratio of 0.43. NMI Holdings Inc has a 1 year low of $15.62 and a 1 year high of $31.34.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. NMI had a return on equity of 19.65% and a net margin of 41.31%. The company had revenue of $91.18 million during the quarter, compared to analysts’ expectations of $85.11 million. Sell-side analysts anticipate that NMI Holdings Inc will post 2.4 earnings per share for the current fiscal year.

In related news, CFO Adam Pollitzer sold 4,092 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $28.05, for a total transaction of $114,780.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is owned by insiders.

About NMI

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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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Institutional Ownership by Quarter for NMI (NASDAQ:NMIH)

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