Zacks Investment Research upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a buy rating in a research report report published on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $36.00 price objective on the financial services provider’s stock.
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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. “
A number of other equities research analysts also recently commented on NMIH. ValuEngine raised NMI from a sell rating to a hold rating in a report on Friday. Zelman & Associates raised NMI from a hold rating to a buy rating in a research note on Friday, August 2nd. BidaskClub downgraded NMI from a strong-buy rating to a buy rating in a research note on Saturday, September 7th. BTIG Research set a $36.00 price target on NMI and gave the stock a buy rating in a research note on Wednesday, July 31st. Finally, Credit Suisse Group initiated coverage on NMI in a research note on Thursday, October 10th. They set a neutral rating and a $30.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. NMI has an average rating of Buy and a consensus target price of $32.00.
Shares of NMIH traded up $0.92 during mid-day trading on Friday, reaching $32.91. 832,900 shares of the company’s stock were exchanged, compared to its average volume of 435,422. NMI has a 52-week low of $15.62 and a 52-week high of $33.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.43 and a quick ratio of 0.43. The business’s fifty day simple moving average is $28.22 and its 200-day simple moving average is $27.84. The stock has a market capitalization of $1.99 billion, a PE ratio of 19.83 and a beta of 1.25.
NMI (NASDAQ:NMIH) last released its earnings results on Wednesday, November 6th. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.09. NMI had a return on equity of 19.65% and a net margin of 41.31%. The company had revenue of $101.59 million during the quarter, compared to the consensus estimate of $94.67 million. Equities research analysts predict that NMI will post 2.4 earnings per share for the current year.
In related news, CFO Adam Pollitzer sold 4,821 shares of NMI stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $28.02, for a total transaction of $135,084.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Bradley M. Shuster sold 51,250 shares of NMI stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $29.06, for a total value of $1,489,325.00. Following the sale, the chairman now owns 543,552 shares of the company’s stock, valued at approximately $15,795,621.12. The disclosure for this sale can be found here. Insiders have sold a total of 200,693 shares of company stock valued at $5,669,366 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Insight Wealth Strategies LLC purchased a new stake in NMI during the 3rd quarter worth about $531,000. Mason Street Advisors LLC increased its position in NMI by 2.1% during the 3rd quarter. Mason Street Advisors LLC now owns 23,011 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 468 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in NMI during the 3rd quarter worth about $27,000. Carillon Tower Advisers Inc. increased its position in NMI by 28.3% during the 3rd quarter. Carillon Tower Advisers Inc. now owns 1,438,589 shares of the financial services provider’s stock worth $37,777,000 after purchasing an additional 317,391 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its position in NMI by 28.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,670,696 shares of the financial services provider’s stock worth $43,872,000 after purchasing an additional 365,801 shares in the last quarter. Hedge funds and other institutional investors own 90.61% of the company’s stock.
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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