NMI (NASDAQ:NMIH) Now Covered by Analysts at BTIG Research

BTIG Research began coverage on shares of NMI (NASDAQ:NMIH) in a research note issued on Tuesday. The firm set a “buy” rating and a $54.00 price target on the financial services provider’s stock. BTIG Research’s price objective would indicate a potential upside of 25.35% from the company’s previous close.

NMIH has been the topic of a number of other reports. Weiss Ratings restated a “buy (b)” rating on shares of NMI in a research report on Wednesday, September 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $53.00 price target on shares of NMI in a report on Tuesday, August 4th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 price target on shares of NMI in a research note on Monday, August 3rd. JPMorgan Chase & Co. lifted their price target on shares of NMI from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Truist Financial lifted their target price on NMI from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.14.

NMI Price Performance

NASDAQ:NMIH traded up $0.57 during trading hours on Tuesday, hitting $43.08. 23,734 shares of the stock were exchanged, compared to its average volume of 510,937. The company has a market cap of $3.24 billion, a P/E ratio of 8.45, a P/E/G ratio of 1.15 and a beta of 0.53. The firm’s fifty day moving average price is $44.05 and its 200 day moving average price is $40.38. NMI has a 52-week low of $34.84 and a 52-week high of $46.74. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. NMI had a return on equity of 15.13% and a net margin of 54.10%.The firm had revenue of $187.89 million for the quarter, compared to analyst estimates of $156.26 million. During the same period in the previous year, the company posted $1.22 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that NMI will post 5.25 EPS for the current fiscal year.

Insider Activity

In related news, EVP Robert Smith sold 12,000 shares of NMI stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $44.65, for a total value of $535,800.00. Following the completion of the transaction, the executive vice president owned 96,381 shares in the company, valued at $4,303,411.65. The trade was a 11.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Aurora Swithenbank sold 11,662 shares of NMI stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $44.51, for a total transaction of $519,075.62. Following the completion of the transaction, the executive vice president owned 50,734 shares of the company’s stock, valued at $2,258,170.34. This represents a 18.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 196,368 shares of company stock worth $8,800,740. 2.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NMI

Hedge funds and other institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd grew its stake in shares of NMI by 96.0% during the second quarter. WINTON GROUP Ltd now owns 24,747 shares of the financial services provider’s stock worth $1,017,000 after purchasing an additional 12,120 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of NMI during the 2nd quarter worth about $122,000. NewEdge Advisors LLC raised its position in shares of NMI by 7.5% during the 2nd quarter. NewEdge Advisors LLC now owns 18,050 shares of the financial services provider’s stock worth $742,000 after acquiring an additional 1,252 shares in the last quarter. Allworth Financial LP lifted its stake in NMI by 44.3% during the second quarter. Allworth Financial LP now owns 2,184 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 670 shares during the last quarter. Finally, Nykredit A S purchased a new stake in NMI during the second quarter worth approximately $31,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

About NMI

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a provider of private mortgage insurance in the United States. Through its insurance subsidiaries, the company offers mortgage insurance to lenders and other mortgage market participants, helping protect against losses when borrowers default on residential home loans.

National MI’s products support conventional residential mortgages, including borrower-paid and lender-paid mortgage insurance arrangements. Its coverage is generally used when a homebuyer makes a down payment of less than 20%, enabling lenders to extend mortgage credit while reducing their exposure to potential default-related losses.