Zacks Investment Research upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a buy rating in a report released on Saturday morning, Zacks.com reports. They currently have $36.00 price objective on the financial services provider’s stock.
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. “
Other equities research analysts have also issued research reports about the stock. B. Riley raised shares of NMI from a neutral rating to a buy rating and upped their price objective for the company from $30.00 to $34.00 in a report on Tuesday, October 15th. BTIG Research set a $36.00 price objective on shares of NMI and gave the company a buy rating in a report on Wednesday, July 31st. ValuEngine raised shares of NMI from a sell rating to a hold rating in a report on Friday. Zelman & Associates raised shares of NMI from a hold rating to a buy rating in a report on Friday, August 2nd. Finally, BidaskClub lowered shares of NMI from a strong-buy rating to a buy rating in a report on Saturday, September 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $32.00.
NASDAQ NMIH traded up $0.92 on Friday, hitting $32.91. 832,900 shares of the company’s stock traded hands, compared to its average volume of 435,422. NMI has a 1-year low of $15.62 and a 1-year high of $33.54. The firm has a market capitalization of $1.99 billion, a PE ratio of 19.83 and a beta of 1.25. The firm’s 50-day moving average price is $28.22 and its two-hundred day moving average price is $27.84. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.18.
NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.09. NMI had a net margin of 41.31% and a return on equity of 19.65%. The firm had revenue of $101.59 million during the quarter, compared to analyst estimates of $94.67 million. On average, research analysts anticipate that NMI will post 2.4 earnings per share for the current fiscal year.
In other NMI news, Chairman Bradley M. Shuster sold 25,625 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $29.11, for a total value of $745,943.75. Following the transaction, the chairman now owns 517,927 shares of the company’s stock, valued at $15,076,854.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Bradley M. Shuster sold 51,250 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $29.06, for a total transaction of $1,489,325.00. Following the completion of the transaction, the chairman now directly owns 543,552 shares in the company, valued at approximately $15,795,621.12. The disclosure for this sale can be found here. Insiders sold 200,693 shares of company stock worth $5,669,366 in the last ninety days. 4.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Centaurus Financial Inc. acquired a new position in NMI in the first quarter valued at about $38,000. Tower Research Capital LLC TRC acquired a new stake in shares of NMI during the third quarter worth about $27,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of NMI during the second quarter worth about $34,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of NMI during the second quarter worth about $52,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of NMI during the second quarter worth about $83,000. 90.61% of the stock is currently owned by institutional investors.
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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