NMI (NMIH) Lowered to Hold at BidaskClub

BidaskClub lowered shares of NMI (NASDAQ:NMIH) from a buy rating to a hold rating in a research note released on Tuesday.

Several other brokerages have also recently issued reports on NMIH. Compass Point restated a buy rating and issued a $24.00 price target on shares of NMI in a research report on Thursday, August 2nd. Zacks Investment Research cut NMI from a strong-buy rating to a hold rating in a research report on Tuesday, September 18th. Keefe, Bruyette & Woods cut NMI from an outperform rating to a market perform rating and set a $23.50 target price on the stock. in a research report on Monday, August 6th. Susquehanna Bancshares boosted their target price on NMI from $21.00 to $24.00 and gave the stock a buy rating in a research report on Thursday, August 2nd. Finally, B. Riley boosted their target price on NMI from $20.00 to $26.00 and gave the stock a buy rating in a research report on Tuesday, August 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. NMI has an average rating of Buy and an average target price of $22.85.

Shares of NMIH stock opened at $19.67 on Tuesday. The stock has a market capitalization of $1.49 billion, a P/E ratio of 34.91 and a beta of 1.11. NMI has a 52-week low of $12.70 and a 52-week high of $24.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.27 and a current ratio of 0.27.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The firm had revenue of $67.45 million for the quarter. NMI had a return on equity of 13.46% and a net margin of 25.23%. As a group, equities research analysts forecast that NMI will post 1.55 EPS for the current fiscal year.

In related news, CEO Bradley M. Shuster sold 83,184 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $22.23, for a total value of $1,849,180.32. Following the sale, the chief executive officer now owns 643,056 shares of the company’s stock, valued at approximately $14,295,134.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Bradley M. Shuster sold 81,972 shares of the stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $21.24, for a total value of $1,741,085.28. Following the transaction, the chief executive officer now directly owns 643,056 shares in the company, valued at approximately $13,658,509.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 438,220 shares of company stock worth $9,503,491. 5.70% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of NMIH. Glen Harbor Capital Management LLC lifted its stake in shares of NMI by 70.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 6,358 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 2,618 shares during the period. Quantbot Technologies LP purchased a new position in shares of NMI during the 1st quarter worth $126,000. Itau Unibanco Holding S.A. purchased a new position in shares of NMI during the 2nd quarter worth $129,000. Kessler Investment Group LLC purchased a new position in shares of NMI during the 2nd quarter worth $133,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of NMI during the 2nd quarter worth $144,000. 90.50% of the stock is currently owned by institutional investors.

About NMI

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.

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