NMI (NASDAQ:NMIH) Stock Price Down 3.8% – Should You Sell?

NMI Holdings, Inc. (NASDAQ:NMIH)’s stock price dropped 3.8% on Monday . The company traded as low as $35.41 and last traded at $35.50. Approximately 80,116 shares traded hands during trading, a decline of 65% from the average daily volume of 226,617 shares. The stock had previously closed at $36.92.

Analysts Set New Price Targets

NMIH has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective 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. Royal Bank of Canada cut their target price on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Finally, Barclays lowered shares of NMI from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $48.00 to $41.00 in a research note on Monday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, NMI currently has an average rating of “Moderate Buy” and an average price target of $42.14.

NMI Stock Performance

The company has a 50 day simple moving average of $38.06 and a 200-day simple moving average of $38.35. The stock has a market capitalization of $2.84 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 0.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83.

Hedge Funds Weigh In On NMI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NMIH. GAMMA Investing LLC raised its stake in shares of NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 265 shares during the last quarter. Quarry LP grew its holdings in NMI by 135.1% during the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 493 shares during the period. Federated Hermes Inc. increased its holdings in NMI by 1.8% in the 2nd quarter. Federated Hermes Inc. now owns 33,570 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 593 shares in the last quarter. Diversified Trust Co raised its position in shares of NMI by 2.9% during the 3rd quarter. Diversified Trust Co now owns 28,567 shares of the financial services provider’s stock valued at $1,177,000 after purchasing an additional 805 shares during the period. Finally, Profund Advisors LLC raised its holdings in NMI by 11.9% during the second quarter. Profund Advisors LLC now owns 7,775 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 824 shares during the period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

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.