NMI Holdings Inc (NMIH) Attracting the Attention of Smart Money

With general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. Serengeti Asset Management, managed by Jody LaNasa and Vivian Lau, assembled the largest position in NMI Holdings Inc (NASDAQ:NMIH). Serengeti Asset Management had $1.8 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $1.8 million investment in the stock during the quarter. The other funds with new positions in the stock are Glenn Russell Dubin’s Highbridge Capital Management, Peter Muller’s PDT Partners, and Chuck Royce’s Royce & Associates.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as NMI Holdings Inc (NASDAQ:NMIH) but similarly valued. These stocks are Trevena Inc (NASDAQ:TRVN), Sabine Royalty Trust (NYSE:SBR), Neuroderm Ltd (NASDAQ:NDRM), and Douglas Dynamics Inc (NYSE:PLOW). All of these stocks’ market caps match NMI Holdings Inc’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $62 million. That figure was $236 million in NMI Holdings Inc’s case. Trevena Inc (NASDAQ:TRVN) is the most popular stock in this table. On the other hand Sabine Royalty Trust (NYSE:SBR) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks NMI Holdings Inc (NASDAQ:NMIH) is more popular among hedge funds and has quite a bit more money invested in it. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.