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

NMI Holdings, Inc. (NASDAQ:NMIH) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 1,260,000 shares, a drop of 15.4% from the November 30th total of 1,490,000 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average trading volume of 485,600 shares, the short-interest ratio is presently 2.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased 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 valued at $30,000 after purchasing an additional 265 shares in the last quarter. Quarry LP grew its position in shares of NMI by 135.1% during the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 493 shares during the period. USA Financial Formulas bought a new stake in shares of NMI in the third quarter valued at $57,000. Picton Mahoney Asset Management bought a new stake in NMI in the 2nd quarter valued at about $63,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of NMI by 989.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,248 shares of the financial services provider’s stock valued at $134,000 after buying an additional 2,950 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

NMI Trading Down 1.4 %

Shares of NMI stock opened at $36.72 on Monday. NMI has a 52-week low of $28.67 and a 52-week high of $42.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a 50-day moving average of $38.30 and a 200-day moving average of $38.23. The stock has a market cap of $2.91 billion, a PE ratio of 8.40, a PEG ratio of 0.92 and a beta of 1.10.

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.