NMI (NASDAQ:NMIH) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.
Several other equities analysts also recently commented on the company. Barclays started coverage on NMI in a research report on Monday, September 10th. They issued an “overweight” rating and a $28.00 price objective on the stock. Keefe, Bruyette & Woods downgraded NMI from an “outperform” rating to a “market perform” rating and set a $23.50 price objective on the stock. in a research report on Monday, August 6th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $24.00 price objective on shares of NMI in a research report on Thursday, August 2nd. Zacks Investment Research downgraded NMI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Finally, B. Riley upped their price objective on NMI from $20.00 to $26.00 and gave the company 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 assigned a buy rating to the company. NMI presently has an average rating of “Buy” and a consensus price target of $22.85.
NASDAQ NMIH opened at $20.78 on Tuesday. The company has a market cap of $1.49 billion, a PE ratio of 36.46 and a beta of 1.11. 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 has a fifty-two week low of $11.95 and a fifty-two week high of $24.50.
NMI (NASDAQ:NMIH) last released its earnings results on Wednesday, August 1st. The financial services provider reported $0.40 earnings per share 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%. On average, equities analysts expect that NMI will post 1.55 earnings per share for the current year.
In other news, President Claudia J. Merkle sold 76,000 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $21.26, for a total transaction of $1,615,760.00. Following the transaction, the president now owns 162,195 shares of the company’s stock, valued at approximately $3,448,265.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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. Insiders sold a total of 438,220 shares of company stock worth $9,503,491 in the last ninety days. 5.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of NMIH. Glen Harbor Capital Management LLC grew its position 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 buying an additional 2,618 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of NMI during the 1st quarter worth $126,000. Itau Unibanco Holding S.A. bought a new position in shares of NMI during the 2nd quarter worth $129,000. Kessler Investment Group LLC bought a new position in shares of NMI during the 2nd quarter worth $133,000. Finally, Nisa Investment Advisors LLC bought 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 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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