Glendon Capital Management LP Maintains Holdings in NMI Holdings Inc (NMIH)
Glendon Capital Management LP continued to hold its position in shares of NMI Holdings Inc (NASDAQ:NMIH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 848,647 shares of the financial services provider’s stock at the close of the 2nd quarter. NMI Holdings makes up about 2.4% of Glendon Capital Management LP’s investment portfolio, making the stock its 10th largest position. Glendon Capital Management LP owned 1.42% of NMI Holdings worth $9,717,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of NMIH. Wells Fargo & Company MN increased its stake in NMI Holdings by 99.0% in the 1st quarter. Wells Fargo & Company MN now owns 65,100 shares of the financial services provider’s stock valued at $742,000 after buying an additional 32,389 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of NMI Holdings by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 481,960 shares of the financial services provider’s stock valued at $5,494,000 after acquiring an additional 19,354 shares during the period. American International Group Inc. grew its position in shares of NMI Holdings by 7.1% during the 1st quarter. American International Group Inc. now owns 30,430 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 2,022 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in shares of NMI Holdings by 1,532.2% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 86,504 shares of the financial services provider’s stock valued at $985,000 after acquiring an additional 81,204 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of NMI Holdings by 55.3% during the 1st quarter. Wellington Management Group LLP now owns 2,177,377 shares of the financial services provider’s stock valued at $24,822,000 after acquiring an additional 775,534 shares during the period. Hedge funds and other institutional investors own 84.86% of the company’s stock.
A number of research analysts have recently weighed in on NMIH shares. Deutsche Bank AG set a $15.00 target price on shares of NMI Holdings and gave the company a “buy” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded shares of NMI Holdings from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Compass Point downgraded shares of NMI Holdings from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Tuesday, August 8th. Keefe, Bruyette & Woods raised shares of NMI Holdings from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 5th. Finally, ValuEngine downgraded shares of NMI Holdings from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.20.
NMI Holdings Inc (NMIH) traded up 5.67% on Thursday, reaching $13.05. 2,234,011 shares of the company traded hands. The stock has a market capitalization of $781.20 million, a price-to-earnings ratio of 10.38 and a beta of 0.69. NMI Holdings Inc has a 1-year low of $7.50 and a 1-year high of $13.60. The stock’s 50-day moving average is $11.52 and its 200-day moving average is $11.45.
NMI Holdings (NASDAQ:NMIH) last announced its earnings results on Tuesday, August 1st. The financial services provider reported $0.10 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.10. NMI Holdings had a net margin of 52.34% and a return on equity of 5.95%. The business had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $41.13 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm’s revenue was up 43.1% on a year-over-year basis. Equities research analysts expect that NMI Holdings Inc will post $0.51 EPS for the current year.
In other NMI Holdings news, CEO Bradley M. Shuster sold 89,227 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $11.81, for a total transaction of $1,053,770.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William J. Leatherberry bought 5,000 shares of NMI Holdings stock in a transaction on Tuesday, August 29th. The shares were acquired at an average cost of $10.65 per share, with a total value of $53,250.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 149,227 shares of company stock valued at $1,760,571. 5.40% of the stock is owned by corporate insiders.
NMI Holdings Profile
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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