NMI Holdings Inc (NASDAQ:NMIH) Sees Large Growth in Short Interest

NMI Holdings Inc (NASDAQ:NMIH) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 3,190,000 shares, an increase of 50.5% from the June 15th total of 2,120,000 shares. Based on an average daily volume of 1,560,000 shares, the short-interest ratio is currently 2.0 days. Approximately 4.7% of the company’s stock are sold short.

Several equities research analysts have recently issued reports on the stock. TheStreet cut shares of NMI from a “b-” rating to a “c+” rating in a research report on Wednesday, April 1st. BidaskClub raised shares of NMI from a “sell” rating to a “hold” rating in a research report on Friday, May 8th. Credit Suisse Group reaffirmed a “neutral” rating on shares of NMI in a research report on Wednesday, June 10th. BTIG Research reaffirmed a “buy” rating and set a $23.00 price objective on shares of NMI in a research report on Wednesday, May 6th. Finally, ValuEngine raised shares of NMI from a “strong sell” rating to a “sell” rating in a research report on Friday, June 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $27.63.

Several institutional investors have recently modified their holdings of the company. Toronto Dominion Bank acquired a new position in NMI during the fourth quarter worth about $33,000. Arden Trust Co acquired a new position in NMI during the first quarter worth about $36,000. Advisor Group Holdings Inc. acquired a new position in NMI during the first quarter worth about $40,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in NMI by 22.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,383 shares of the financial services provider’s stock worth $62,000 after buying an additional 978 shares during the period. Finally, Advisors Asset Management Inc. grew its position in NMI by 32.9% during the fourth quarter. Advisors Asset Management Inc. now owns 2,717 shares of the financial services provider’s stock worth $90,000 after buying an additional 673 shares during the period. Institutional investors and hedge funds own 91.41% of the company’s stock.

NASDAQ NMIH traded down $1.49 during trading on Tuesday, reaching $14.35. The company’s stock had a trading volume of 86,574 shares, compared to its average volume of 1,506,026. NMI has a twelve month low of $8.06 and a twelve month high of $35.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The business’s fifty day moving average price is $16.17 and its 200-day moving average price is $21.41. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 5.46 and a beta of 1.92.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. NMI had a net margin of 48.69% and a return on equity of 21.90%. The business had revenue of $107.60 million for the quarter, compared to analyst estimates of $106.08 million. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, sell-side analysts forecast that NMI will post 1.98 EPS for the current fiscal year.

NMI Company Profile

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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