Janney Montgomery Scott LLC Sells 2,726 Shares of NMI Holdings Inc $NMIH

Janney Montgomery Scott LLC lessened its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 19.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,482 shares of the financial services provider’s stock after selling 2,726 shares during the quarter. Janney Montgomery Scott LLC’s holdings in NMI were worth $484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Maseco LLP bought a new stake in NMI during the 2nd quarter valued at $32,000. Neo Ivy Capital Management bought a new stake in NMI during the 1st quarter valued at $47,000. Caitong International Asset Management Co. Ltd bought a new stake in NMI during the 1st quarter valued at $48,000. Quarry LP boosted its position in shares of NMI by 89.3% in the 1st quarter. Quarry LP now owns 1,482 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 699 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of NMI by 104.2% in the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 798 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

NMI Stock Performance

Shares of NMIH stock opened at $35.77 on Friday. NMI Holdings Inc has a 52-week low of $31.90 and a 52-week high of $43.20. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.77 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 1.02 and a beta of 0.56. The business has a 50-day simple moving average of $38.54 and a 200-day simple moving average of $38.13.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. The company had revenue of $149.07 million during the quarter, compared to analysts’ expectations of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%.NMI’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $1.20 earnings per share. On average, equities analysts expect that NMI Holdings Inc will post 4.62 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on NMIH. Weiss Ratings reissued a “buy (b)” rating on shares of NMI in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on NMI from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Wall Street Zen cut NMI from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Barclays reissued a “cautious” rating on shares of NMI in a research report on Monday, October 6th. Finally, Keefe, Bruyette & Woods cut NMI from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.33.

Insiders Place Their Bets

In related news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the completion of the transaction, the director directly owned 78,960 shares in the company, valued at approximately $3,103,917.60. This trade represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

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.