Ellis Investment Partners LLC Cuts Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Ellis Investment Partners LLC reduced its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 0.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 92,427 shares of the financial services provider’s stock after selling 300 shares during the period. NMI accounts for about 0.7% of Ellis Investment Partners LLC’s holdings, making the stock its 27th largest holding. Ellis Investment Partners LLC’s holdings in NMI were worth $3,807,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in NMI in the second quarter valued at about $29,000. Quarry LP raised its position in NMI by 135.1% in 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. GAMMA Investing LLC raised its position in NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 265 shares during the period. Fidelis Capital Partners LLC purchased a new position in NMI in the first quarter valued at about $31,000. Finally, USA Financial Formulas purchased a new position in NMI in the third quarter valued at about $57,000. 94.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NMIH has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada upgraded NMI from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $40.00 to $48.00 in a research note on Wednesday, September 18th. Finally, Barclays raised their target price on NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.43.

NMI Stock Down 2.0 %

NASDAQ:NMIH traded down $0.78 during mid-day trading on Friday, reaching $38.59. The stock had a trading volume of 296,013 shares, compared to its average volume of 531,657. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.90 and a beta of 1.12. NMI Holdings, Inc. has a 1-year low of $26.41 and a 1-year high of $42.49. The stock’s 50 day simple moving average is $40.50 and its two-hundred day simple moving average is $36.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. NMI had a return on equity of 18.29% and a net margin of 56.40%. The business had revenue of $162.12 million during the quarter, compared to the consensus estimate of $138.49 million. During the same period last year, the firm earned $0.95 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities analysts anticipate that NMI Holdings, Inc. will post 4.5 EPS for the current year.

Insider Buying and Selling at NMI

In other NMI news, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the transaction, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other NMI news, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the transaction, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

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.