NMI (NMIH) Cut to “Hold” at Zelman & Associates

Zelman & Associates downgraded shares of NMI (NASDAQ:NMIH) from a buy rating to a hold rating in a research note published on Friday morning, The Fly reports.

A number of other research analysts have also weighed in on the stock. Compass Point reissued a buy rating and set a $33.00 price target (up from $30.50) on shares of NMI in a research report on Thursday, May 2nd. Zacks Investment Research raised shares of NMI from a hold rating to a strong-buy rating and set a $31.00 price target on the stock in a research report on Thursday, April 25th. SunTrust Banks began coverage on shares of NMI in a research report on Thursday, April 18th. They set a buy rating and a $34.00 price target on the stock. B. Riley lowered shares of NMI from a buy rating to a neutral rating and set a $26.00 price target on the stock. in a research report on Friday, April 12th. Finally, BidaskClub raised shares of NMI from a buy rating to a strong-buy rating in a research report on Wednesday, February 20th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $28.11.

NMIH opened at $28.14 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.33 and a current ratio of 0.45. NMI has a 1-year low of $15.06 and a 1-year high of $28.85. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 16.95 and a beta of 1.40.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. NMI had a net margin of 39.95% and a return on equity of 18.92%. The company had revenue of $81.11 million for the quarter, compared to analyst estimates of $78.28 million. On average, equities research analysts anticipate that NMI will post 2.27 earnings per share for the current year.

In related news, Director Steven Scheid sold 13,300 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $22.45, for a total value of $298,585.00. Following the completion of the transaction, the director now directly owns 67,491 shares of the company’s stock, valued at approximately $1,515,172.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Julie Norberg sold 11,146 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $25.97, for a total transaction of $289,461.62. Following the completion of the transaction, the senior vice president now directly owns 19,271 shares of the company’s stock, valued at $500,467.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 392,073 shares of company stock valued at $9,786,334. 4.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in shares of NMI by 7.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 991,912 shares of the financial services provider’s stock worth $22,467,000 after purchasing an additional 68,482 shares during the period. MetLife Investment Advisors LLC raised its position in shares of NMI by 58.0% during the 3rd quarter. MetLife Investment Advisors LLC now owns 43,797 shares of the financial services provider’s stock worth $992,000 after purchasing an additional 16,086 shares during the period. Teachers Advisors LLC raised its position in shares of NMI by 7.8% during the 3rd quarter. Teachers Advisors LLC now owns 123,552 shares of the financial services provider’s stock worth $2,798,000 after purchasing an additional 8,974 shares during the period. Legal & General Group Plc raised its position in shares of NMI by 21.2% during the 3rd quarter. Legal & General Group Plc now owns 139,954 shares of the financial services provider’s stock worth $3,174,000 after purchasing an additional 24,440 shares during the period. Finally, Morgan Stanley raised its position in shares of NMI by 314.9% during the 3rd quarter. Morgan Stanley now owns 586,982 shares of the financial services provider’s stock worth $13,294,000 after purchasing an additional 445,508 shares during the period. 90.86% of the stock is owned by institutional investors.

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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