NMI Holdings, Inc. (NASDAQ:NMIH) Sees Significant Decline in Short Interest

NMI Holdings, Inc. (NASDAQ:NMIH) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 1,260,000 shares, a decline of 15.4% from the November 30th total of 1,490,000 shares. Based on an average daily volume of 485,600 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.6% of the company’s stock are sold short.

Institutional Trading of NMI

Institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of NMI by 1.0% during the third quarter. State Street Corp now owns 3,565,348 shares of the financial services provider’s stock worth $146,857,000 after purchasing an additional 35,351 shares during the period. Van Berkom & Associates Inc. increased its position in shares of NMI by 2.1% in the second quarter. Van Berkom & Associates Inc. now owns 2,451,743 shares of the financial services provider’s stock worth $83,457,000 after acquiring an additional 51,194 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of NMI by 38.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,942,428 shares of the financial services provider’s stock valued at $80,009,000 after acquiring an additional 534,818 shares in the last quarter. American Century Companies Inc. grew its position in NMI by 18.4% during the 2nd quarter. American Century Companies Inc. now owns 1,617,601 shares of the financial services provider’s stock worth $55,063,000 after purchasing an additional 251,664 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of NMI by 7.6% in the third quarter. FMR LLC now owns 1,517,092 shares of the financial services provider’s stock valued at $62,489,000 after purchasing an additional 107,771 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Trading Down 1.4 %

Shares of NASDAQ:NMIH opened at $36.72 on Monday. NMI has a fifty-two week low of $28.67 and a fifty-two week high of $42.49. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The company has a market cap of $2.91 billion, a PE ratio of 8.40, a P/E/G ratio of 0.92 and a beta of 1.10. The company’s 50-day moving average price is $38.30 and its 200 day moving average price is $38.23.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NMIH. Barclays raised their price target on NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on NMI from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their price target on shares of NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Finally, Royal Bank of Canada cut their target price on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

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.