Entropy Technologies LP Boosts Holdings in NMI Holdings Inc (NASDAQ:NMIH)

Entropy Technologies LP increased its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 136.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 18,688 shares of the financial services provider’s stock after purchasing an additional 10,800 shares during the period. Entropy Technologies LP’s holdings in NMI were worth $674,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in shares of NMI during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of NMI during the 1st quarter worth approximately $33,000. Neo Ivy Capital Management purchased a new position in shares of NMI during the 1st quarter worth approximately $47,000. GAMMA Investing LLC boosted its position in shares of NMI by 104.2% during 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 during the period. Finally, Covestor Ltd boosted its position in shares of NMI by 601.1% during the 4th quarter. Covestor Ltd now owns 1,893 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,623 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Insider Buying and Selling at NMI

In other news, Chairman Bradley M. Shuster sold 21,545 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $39.56, for a total value of $852,320.20. Following the sale, the chairman directly owned 409,792 shares in the company, valued at approximately $16,211,371.52. This trade represents a 4.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

NMIH has been the subject of a number of research analyst reports. Wall Street Zen cut shares of NMI from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Compass Point reaffirmed a “buy” rating and set a $37.00 price objective (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. Keefe, Bruyette & Woods cut shares of NMI from an “outperform” rating to a “market perform” rating and raised their price target for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Barclays raised their price target on shares of NMI from $41.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of NMI from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.33.

NMI Stock Performance

Shares of NMIH stock opened at $39.65 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. The stock has a market capitalization of $3.08 billion, a PE ratio of 8.42, a P/E/G ratio of 1.14 and a beta of 0.57. The firm has a 50 day moving average of $39.62 and a two-hundred day moving average of $37.39.

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

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.