NMI (NASDAQ:NMIH) Shares Down 3.8% - Here's What Happened

NMI Holdings, Inc. (NASDAQ:NMIH - Get Free Report) traded down 3.8% on Monday . The company traded as low as $35.41 and last traded at $35.50. 80,116 shares traded hands during trading, a decline of 65% from the average session volume of 226,617 shares. The stock had previously closed at $36.92.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NMIH shares. JPMorgan Chase & Co. dropped their price target on NMI from $46.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, December 9th. Keefe, Bruyette & Woods increased their target price on shares of NMI from $43.00 to $44.00 and gave the stock a "market perform" rating in a report on Tuesday, December 10th. Royal Bank of Canada reduced their price target on shares of NMI from $48.00 to $47.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Finally, Barclays cut shares of NMI from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $48.00 to $41.00 in a research report on Monday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, NMI has a consensus rating of "Moderate Buy" and a consensus target price of $42.14.

NMI Stock Down 3.5 %

The company's fifty day simple moving average is $37.99 and its 200-day simple moving average is $38.40. The firm has a market capitalization of $2.82 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83.

Institutional Investors Weigh In On NMI

Large investors have recently modified their holdings of the business. Jane Street Group LLC boosted its stake in NMI by 64.2% in the 3rd quarter. Jane Street Group LLC now owns 139,173 shares of the financial services provider's stock worth $5,733,000 after purchasing an additional 54,391 shares in the last quarter. Algert Global LLC raised its holdings in shares of NMI by 88.9% in the third quarter. Algert Global LLC now owns 142,141 shares of the financial services provider's stock worth $5,855,000 after buying an additional 66,880 shares during the last quarter. Edgestream Partners L.P. lifted its stake in shares of NMI by 13.1% during the second quarter. Edgestream Partners L.P. now owns 172,794 shares of the financial services provider's stock worth $5,882,000 after buying an additional 20,048 shares during the period. Citigroup Inc. grew its holdings in shares of NMI by 95.4% during the third quarter. Citigroup Inc. now owns 129,180 shares of the financial services provider's stock valued at $5,321,000 after buying an additional 63,058 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of NMI by 53.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 112,224 shares of the financial services provider's stock valued at $4,623,000 after acquiring an additional 39,012 shares during the period. Hedge funds and other institutional investors own 94.12% of the company's stock.

NMI Company 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.