Deerfield Management Company L.P. Series C Takes $906,000 Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Deerfield Management Company L.P. Series C acquired a new stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 26,625 shares of the financial services provider’s stock, valued at approximately $906,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd purchased a new stake in shares of NMI during the first quarter worth about $507,000. First Eagle Investment Management LLC raised its position in shares of NMI by 17.6% during the first quarter. First Eagle Investment Management LLC now owns 403,019 shares of the financial services provider’s stock valued at $13,034,000 after buying an additional 60,200 shares during the last quarter. Leuthold Group LLC purchased a new position in shares of NMI in the first quarter worth $2,987,000. Norges Bank purchased a new position in shares of NMI in the fourth quarter worth $20,006,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of NMI during the first quarter worth $532,000. 94.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NMIH has been the subject of a number of research analyst reports. StockNews.com lowered NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Keefe, Bruyette & Woods lifted their price objective on NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised shares of NMI from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $40.00 to $48.00 in a report on Wednesday, September 18th. Finally, Truist Financial upped their price target on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

NMI Price Performance

NMI stock opened at $40.85 on Friday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.94 and a beta of 1.12. The firm has a 50-day moving average of $39.34 and a two-hundred day moving average of $34.84. NMI Holdings, Inc. has a 1 year low of $25.62 and a 1 year high of $42.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.15. The firm had revenue of $162.12 million during the quarter, compared to the consensus estimate of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. On average, research analysts forecast that NMI Holdings, Inc. will post 4.5 earnings per share for the current year.

Insider Transactions at NMI

In related news, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the transaction, the director now directly owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Michael J. Embler sold 26,008 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the sale, the director now owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William J. Leatherberry sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

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.