BidaskClub lowered shares of NMI (NASDAQ:NMIH) from a strong-buy rating to a buy rating in a report released on Saturday morning, BidAskClub reports.
Several other analysts also recently commented on the stock. Zacks Investment Research upgraded shares of NMI from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Friday, July 26th. Zelman & Associates upgraded shares of NMI from a hold rating to a buy rating in a report on Friday, August 2nd. ValuEngine downgraded shares of NMI from a buy rating to a hold rating in a research report on Saturday, July 27th. BTIG Research set a $36.00 price objective on shares of NMI and gave the stock a buy rating in a report on Wednesday, July 31st. Finally, B. Riley set a $30.00 price objective on shares of NMI and gave the stock a hold rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. NMI has a consensus rating of Buy and an average price target of $30.63.
Shares of NASDAQ:NMIH opened at $26.91 on Friday. The company has a 50 day moving average price of $27.10 and a two-hundred day moving average price of $27.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $1.86 billion, a PE ratio of 16.21 and a beta of 1.27. NMI has a 52 week low of $15.62 and a 52 week high of $31.34.
NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $91.18 million for the quarter, compared to analysts’ expectations of $85.11 million. NMI had a net margin of 41.31% and a return on equity of 19.65%. On average, sell-side analysts forecast that NMI will post 2.4 earnings per share for the current year.
In other news, CFO Adam Pollitzer sold 4,821 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $28.02, for a total transaction of $135,084.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley M. Shuster sold 38,125 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $28.01, for a total value of $1,067,881.25. Following the completion of the transaction, the insider now owns 604,420 shares of the company’s stock, valued at approximately $16,929,804.20. The disclosure for this sale can be found here. Insiders have sold a total of 78,571 shares of company stock valued at $2,197,784 over the last ninety days. Company insiders own 4.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. acquired a new position in NMI during the second quarter worth $34,000. Centaurus Financial Inc. bought a new position in shares of NMI in the first quarter valued at about $38,000. C M Bidwell & Associates Ltd. bought a new position in shares of NMI in the second quarter valued at about $52,000. Point72 Hong Kong Ltd acquired a new stake in shares of NMI during the 2nd quarter worth about $83,000. Finally, NumerixS Investment Technologies Inc lifted its stake in shares of NMI by 994.2% during the 1st quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the financial services provider’s stock worth $94,000 after buying an additional 3,271 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.
NMI Company Profile
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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