AXQ Capital LP Makes New Investment in NMI Holdings, Inc. (NASDAQ:NMIH)

AXQ Capital LP purchased a new stake in NMI Holdings, Inc. (NASDAQ:NMIH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,628 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other hedge funds have also recently modified their holdings of NMIH. Raymond James Financial Inc. purchased a new stake in NMI during the fourth quarter worth $13,136,000. Barclays PLC lifted its stake in shares of NMI by 264.4% during the 3rd quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock worth $15,940,000 after purchasing an additional 280,809 shares during the last quarter. abrdn plc bought a new stake in NMI during the fourth quarter valued at about $8,122,000. Denali Advisors LLC grew its stake in NMI by 2,446.6% in the fourth quarter. Denali Advisors LLC now owns 175,718 shares of the financial services provider’s stock valued at $6,459,000 after purchasing an additional 168,818 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in NMI by 8.0% in the fourth quarter. American Century Companies Inc. now owns 1,957,179 shares of the financial services provider’s stock valued at $71,946,000 after purchasing an additional 145,591 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Insider Buying and Selling

In related news, EVP Norman Peter Fitzgerald sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $35.88, for a total transaction of $717,600.00. Following the completion of the sale, the executive vice president now directly owns 37,470 shares in the company, valued at approximately $1,344,423.60. This trade represents a 34.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $35.44, for a total transaction of $38,381.52. Following the completion of the sale, the executive vice president now directly owns 49,218 shares of the company’s stock, valued at approximately $1,744,285.92. This trade represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NMIH. Barclays cut shares of NMI from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $48.00 to $41.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. UBS Group cut their price target on shares of NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods upgraded NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.29.

NMI Trading Up 2.4 %

NMI stock opened at $36.14 on Tuesday. The stock has a 50-day moving average price of $36.47 and a 200 day moving average price of $38.06. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. NMI Holdings, Inc. has a 52 week low of $29.05 and a 52 week high of $42.49. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19.

NMI (NASDAQ:NMIH) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.33%. Sell-side analysts anticipate that NMI Holdings, Inc. will post 4.62 EPS for the current 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.