Short Interest in NMI Holdings, Inc. (NASDAQ:NMIH) Decreases By 15.4%

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

Hedge Funds Weigh In On NMI

A number of hedge funds and other institutional investors have recently made changes to their positions in NMIH. Bank of New York Mellon Corp lifted its stake in NMI by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 670,256 shares of the financial services provider’s stock worth $22,816,000 after acquiring an additional 4,096 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of NMI by 94.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 15,361 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 7,473 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of NMI in the 2nd quarter worth approximately $63,000. Natixis Advisors LLC boosted its stake in shares of NMI by 4.8% during the second quarter. Natixis Advisors LLC now owns 33,600 shares of the financial services provider’s stock valued at $1,144,000 after purchasing an additional 1,527 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in NMI by 5.6% during the second quarter. TD Asset Management Inc now owns 94,200 shares of the financial services provider’s stock valued at $3,207,000 after buying an additional 5,000 shares during the period. Institutional investors own 94.12% of the company’s stock.

Analyst Ratings Changes

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

NMI Trading Down 0.2 %

NASDAQ:NMIH traded down $0.07 during midday trading on Tuesday, hitting $36.76. The stock had a trading volume of 374,041 shares, compared to its average volume of 526,236. The stock has a 50-day moving average of $38.25 and a 200 day moving average of $38.26. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 0.92 and a beta of 1.10. NMI has a one year low of $28.67 and a one year 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.

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.