Denali Advisors LLC Boosts Stake in NMI Holdings, Inc. (NASDAQ:NMIH)

Denali Advisors LLC grew its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 2,446.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,718 shares of the financial services provider’s stock after buying an additional 168,818 shares during the quarter. Denali Advisors LLC owned 0.22% of NMI worth $6,459,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its holdings in NMI by 1.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 44,032 shares of the financial services provider’s stock worth $1,619,000 after acquiring an additional 566 shares during the period. Hudson Edge Investment Partners Inc. increased its position in shares of NMI by 27.3% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 25,568 shares of the financial services provider’s stock valued at $940,000 after purchasing an additional 5,490 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of NMI during the 4th quarter worth $386,000. Handelsbanken Fonder AB boosted its holdings in shares of NMI by 15.6% in the 4th quarter. Handelsbanken Fonder AB now owns 19,300 shares of the financial services provider’s stock worth $709,000 after buying an additional 2,600 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in NMI by 196.3% during the fourth quarter. New York State Common Retirement Fund now owns 75,013 shares of the financial services provider’s stock valued at $2,757,000 after buying an additional 49,700 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Price Performance

NMI stock opened at $35.96 on Wednesday. The firm has a market capitalization of $2.82 billion, a P/E ratio of 8.12, a PEG ratio of 1.41 and a beta of 1.12. NMI Holdings, Inc. has a one year low of $29.05 and a one year high of $42.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. The business has a fifty day moving average price of $36.85 and a 200-day moving average price of $38.59.

NMI (NASDAQ:NMIH) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. As a group, equities research analysts forecast that NMI Holdings, Inc. will post 4.62 EPS for the current year.

Insider Activity

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

Wall Street Analysts Forecast Growth

NMIH has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Royal Bank of Canada lowered their price target on shares of NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Barclays lowered NMI from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $48.00 to $41.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods upgraded NMI from a “market perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research note on Monday. Finally, UBS Group cut their price target on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.29.

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.