NMI (NASDAQ:NMIH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, January 9th. The brokerage currently has a $20.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.99% from the stock’s previous close.
According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “
Several other analysts also recently weighed in on the company. Deutsche Bank upgraded NMI from a “hold” rating to a “buy” rating and raised their target price for the company from $17.00 to $24.00 in a research note on Monday, January 8th. BidaskClub downgraded NMI from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 30th. BTIG Research restated a “buy” rating and set a $21.00 target price (up from $17.00) on shares of NMI in a research note on Wednesday, December 20th. ValuEngine downgraded NMI from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. Finally, B. Riley reaffirmed a “buy” rating on shares of NMI in a research report on Monday, November 6th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $18.36.
Shares of NMI (NASDAQ:NMIH) traded down $0.65 during trading on Tuesday, hitting $18.35. The stock had a trading volume of 559,218 shares, compared to its average volume of 548,596. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1,130.00, a P/E ratio of 12.92 and a beta of 0.84. NMI has a 12 month low of $10.10 and a 12 month high of $20.38.
NMI (NASDAQ:NMIH) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $48.95 million during the quarter, compared to the consensus estimate of $45.79 million. NMI had a return on equity of 6.95% and a net margin of 51.80%. The company’s revenue was up 37.8% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. sell-side analysts expect that NMI will post 0.55 earnings per share for the current year.
In other news, EVP Patrick L. Mathis sold 10,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $16.99, for a total transaction of $169,900.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Julie Norberg sold 16,600 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $16.73, for a total transaction of $277,718.00. Following the transaction, the vice president now directly owns 32,305 shares in the company, valued at approximately $540,462.65. The disclosure for this sale can be found here. Insiders have sold 41,600 shares of company stock worth $714,618 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. bought a new position in NMI in the third quarter worth about $113,000. Citadel Advisors LLC bought a new position in NMI in the third quarter worth about $141,000. Legal & General Group Plc lifted its holdings in NMI by 8.8% in the second quarter. Legal & General Group Plc now owns 13,003 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 1,047 shares during the last quarter. SG Americas Securities LLC bought a new position in NMI in the third quarter worth about $156,000. Finally, Algert Global LLC bought a new position in NMI in the third quarter worth about $179,000. 83.60% of the stock is currently owned by hedge funds and other institutional investors.
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NMI Company 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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