Dark Forest Capital Management LP Acquires Shares of 8,980 NMI Holdings, Inc. (NASDAQ:NMIH)

Dark Forest Capital Management LP bought a new position in NMI Holdings, Inc. (NASDAQ:NMIH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,980 shares of the financial services provider’s stock, valued at approximately $306,000.

A number of other large investors have also made changes to their positions in NMIH. Capital International Investors purchased a new position in NMI during the 1st quarter worth approximately $32,270,000. Donald Smith & CO. Inc. acquired a new position in NMI during the second quarter valued at $29,708,000. Goldentree Asset Management LP purchased a new stake in NMI in the 1st quarter worth about $22,600,000. Norges Bank acquired a new stake in NMI during the 4th quarter worth about $20,006,000. Finally, F M Investments LLC acquired a new stake in NMI during the 2nd quarter worth about $12,447,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on NMIH shares. Barclays increased their price target on shares of NMI from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial boosted their price target on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods upped their target price on NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

NMI Stock Performance

NMIH opened at $41.03 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $3.29 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.94 and a beta of 1.12. The stock has a 50-day moving average of $39.42 and a 200-day moving average of $34.94. NMI Holdings, Inc. has a 52-week low of $25.62 and a 52-week high of $42.49.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. The company had revenue of $162.12 million for the quarter, compared to analyst estimates of $138.49 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. As a group, equities research analysts forecast that NMI Holdings, Inc. will post 4.5 earnings per share for the current fiscal year.

NMI 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.