Michael Curry Montgomery Sells 1,796 Shares of NMI Holdings, Inc. (NASDAQ:NMIH) Stock

NMI Holdings, Inc. (NASDAQ:NMIH – Get Rating) Director Michael Curry Montgomery sold 1,796 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $18.39, for a total transaction of $33,028.44. Following the sale, the director now owns 40,424 shares of the company’s stock, valued at $743,397.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NASDAQ:NMIH opened at $17.55 on Thursday. NMI Holdings, Inc. has a 12 month low of $16.69 and a 12 month high of $27.25. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 6.27 and a beta of 1.51. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $19.54 and its 200-day moving average is $21.64.

NMI (NASDAQ:NMIH – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. NMI had a net margin of 49.45% and a return on equity of 16.52%. The company had revenue of $127.44 million for the quarter, compared to analyst estimates of $127.70 million. During the same quarter last year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts predict that NMI Holdings, Inc. will post 3.2 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Yousif Capital Management LLC bought a new position in NMI during the fourth quarter worth $1,715,000. ProShare Advisors LLC increased its position in NMI by 62.1% during the fourth quarter. ProShare Advisors LLC now owns 21,035 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 8,062 shares during the period. Epoch Investment Partners Inc. bought a new position in NMI during the third quarter worth $13,253,000. First Eagle Investment Management LLC increased its position in NMI by 283.4% during the fourth quarter. First Eagle Investment Management LLC now owns 53,437 shares of the financial services provider’s stock worth $1,168,000 after acquiring an additional 39,500 shares during the period. Finally, Tealwood Asset Management Inc. bought a new position in NMI during the third quarter worth $1,218,000. 95.68% of the stock is currently owned by institutional investors and hedge funds.

NMIH has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of NMI in a research note on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet cut shares of NMI from a “b-” rating to a “c+” rating in a research note on Tuesday, May 10th. Citigroup reduced their target price on shares of NMI from $32.00 to $28.00 in a research note on Tuesday, May 10th. Keefe, Bruyette & Woods cut shares of NMI from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $26.50 to $27.50 in a research note on Thursday, February 17th. Finally, BTIG Research reduced their target price on shares of NMI from $30.00 to $27.00 in a research note on Tuesday, April 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, NMI presently has an average rating of “Hold” and a consensus price target of $29.79.

NMI Company Profile (Get Rating)

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services; 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.

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