NMI (NASDAQ:NMIH) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of NMI (NASDAQ:NMIH) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

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 research analysts also recently issued reports on the company. B. Riley set a $30.00 price objective on NMI and gave the stock a hold rating in a report on Friday, August 2nd. ValuEngine downgraded NMI from a hold rating to a sell rating in a report on Wednesday, October 2nd. Zelman & Associates raised NMI from a hold rating to a buy rating in a report on Friday, August 2nd. BTIG Research set a $36.00 price objective on NMI and gave the stock a buy rating in a report on Wednesday, July 31st. Finally, BidaskClub downgraded NMI from a strong-buy rating to a buy rating in a report on Saturday, September 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. NMI currently has an average rating of Buy and a consensus price target of $30.56.

NASDAQ:NMIH opened at $26.95 on Tuesday. The stock’s fifty day moving average price is $27.48 and its two-hundred day moving average price is $27.49. NMI has a 52-week low of $15.62 and a 52-week high of $31.34. 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 cap of $1.81 billion, a price-to-earnings ratio of 16.23 and a beta of 1.23.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. NMI had a return on equity of 19.65% and a net margin of 41.31%. The firm had revenue of $91.18 million for the quarter, compared to the consensus estimate of $85.11 million. On average, equities analysts predict that NMI will post 2.4 EPS for the current fiscal year.

In other NMI news, insider Bradley M. Shuster sold 38,125 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $28.01, for a total transaction of $1,067,881.25. Following the completion of the sale, the insider now owns 604,420 shares in the company, valued at approximately $16,929,804.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Ozanne sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $27.86, for a total transaction of $278,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 123,818 shares of company stock valued at $3,434,097 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

Several institutional investors have recently modified their holdings of NMIH. NumerixS Investment Technologies Inc raised its position 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 valued at $94,000 after acquiring an additional 3,271 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of NMI by 3.9% during the 1st quarter. Federated Investors Inc. PA now owns 187,961 shares of the financial services provider’s stock valued at $4,862,000 after acquiring an additional 6,976 shares during the last quarter. FMR LLC raised its position in shares of NMI by 44.8% during the 1st quarter. FMR LLC now owns 2,501,047 shares of the financial services provider’s stock valued at $64,702,000 after acquiring an additional 773,781 shares during the last quarter. Centaurus Financial Inc. bought a new stake in shares of NMI during the 1st quarter valued at $38,000. Finally, WINTON GROUP Ltd raised its position in shares of NMI by 5.9% during the 2nd quarter. WINTON GROUP Ltd now owns 23,778 shares of the financial services provider’s stock valued at $675,000 after acquiring an additional 1,324 shares during the last quarter. Institutional investors own 90.66% of the company’s stock.

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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