Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in NMI Holdings, Inc. (NASDAQ:NMIH) by 28.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,897 shares of the financial services provider’s stock after acquiring an additional 11,860 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of NMI worth $2,220,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of NMI in the second quarter worth $29,000. Quarry LP increased its holdings in NMI by 135.1% during the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 493 shares during the period. GAMMA Investing LLC lifted its stake in NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 265 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of NMI during the 3rd quarter worth $57,000. Finally, Picton Mahoney Asset Management purchased a new stake in NMI during the 2nd quarter worth about $63,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Stock Performance

Shares of NMIH opened at $40.00 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. NMI Holdings, Inc. has a 12-month low of $27.00 and a 12-month high of $42.49. The stock has a market cap of $3.17 billion, a P/E ratio of 8.86, a PEG ratio of 0.95 and a beta of 1.13. The company has a 50-day moving average of $39.69 and a two-hundred day moving average of $37.30.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. upped their target price on shares of NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods lifted their target price on NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Truist Financial lifted their target price on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada dropped their price objective on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, NMI currently has an average rating of “Moderate Buy” and a consensus target price of $43.29.

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.