NMI (NASDAQ:NMIH) Stock Price Down 3.8% – Here’s What Happened

NMI Holdings, Inc. (NASDAQ:NMIH)’s stock price traded down 3.8% during mid-day trading on Monday . The stock traded as low as $35.41 and last traded at $35.50. 80,116 shares traded hands during trading, a decline of 65% from the average session volume of 226,617 shares. The stock had previously closed at $36.92.

Analyst Ratings Changes

A number of equities research analysts have commented on NMIH shares. Royal Bank of Canada reduced their price target on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price target on shares of NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Barclays lowered shares of NMI from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $48.00 to $41.00 in a research note on Monday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of NMI from $44.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

NMI Stock Down 0.4 %

The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of 0.92 and a beta of 1.12. The stock’s 50-day moving average is $37.93 and its 200-day moving average is $38.42.

Hedge Funds Weigh In On NMI

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of NMI by 57.2% during the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 265 shares in the last quarter. Quarry LP increased its stake in NMI by 135.1% in the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after buying an additional 493 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of NMI by 1.8% during the 2nd quarter. Federated Hermes Inc. now owns 33,570 shares of the financial services provider’s stock worth $1,143,000 after buying an additional 593 shares in the last quarter. Diversified Trust Co boosted its stake in shares of NMI by 2.9% in the 3rd quarter. Diversified Trust Co now owns 28,567 shares of the financial services provider’s stock worth $1,177,000 after buying an additional 805 shares during the last quarter. Finally, Profund Advisors LLC increased its position in shares of NMI by 11.9% during the second quarter. Profund Advisors LLC now owns 7,775 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 824 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

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.