NMI Holdings, Inc. (NASDAQ:NMIH) Director Michael Curry has sold 2,340 shares of company stock, as revealed in a recent filing with the Securities and Exchange Commission. The transaction, which took place on May 14, 2024, was executed in the open market with shares sold at a price of $33.3304 each, totaling over $78,000.
Following the sale, Director Curry's remaining stake in the company includes 59,338 common shares and 4,166 unvested restricted stock units, as noted in the footnotes of the filing. This leaves him with a significant holding in the company, even after the disposal of shares.
Investors often monitor insider transactions as they can provide insights into the executives' perspectives on the company's current valuation and future prospects. While the reasons behind individual sales can vary, they are always of interest to the market participants.
NMI Holdings, Inc., based in Emeryville, California, operates within the surety insurance industry and has been a notable player in the financial sector. The company's stock performance and insider transactions are closely watched by shareholders and potential investors alike.
The recent transaction is part of the routine disclosures that corporate insiders are required to make when they buy or sell shares in their own companies. These filings provide transparency and ensure that all market participants have access to the same information.
InvestingPro Insights
Amidst the news of insider transactions at NMI Holdings, Inc. (NASDAQ:NMIH), the company's financial health and market performance continue to draw attention from investors. According to real-time data from InvestingPro, NMI Holdings boasts a robust market capitalization of approximately $2.7 billion and operates with a lean P/E ratio of 8.17. This valuation metric suggests that the company is trading at a low price relative to its near-term earnings growth, an InvestingPro Tip that could signal an attractive entry point for value-oriented investors.
Further reinforcing its financial stability, NMI Holdings has a healthy liquidity position, with liquid assets surpassing short-term obligations. This is a reassuring sign for investors concerned about the company's ability to meet its immediate financial commitments. Moreover, the company's revenue has shown a solid growth trajectory, with a 12.35% increase over the last twelve months as of Q1 2024.
Investors tracking the company's stock performance will note that NMI Holdings has been trading near its 52-week high, reaching 97.9% of this peak. This is coupled with a strong return over the last month, as evidenced by a 13.39% one-month price total return. These metrics underscore a positive momentum for the company's shares, an aspect that may be of particular interest following the insider sale.
For those looking to delve deeper into NMI Holdings' prospects, InvestingPro offers additional insights. There are 7 more InvestingPro Tips available, which include analyst predictions on profitability and observations on dividend policies. To access these valuable tips and metrics, visit https://www.investing.com/pro/NMIH. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research with comprehensive data and expert analysis.
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