NMI (NASDAQ:NMIH) Shares Gap Down Following Analyst Downgrade

NMI Holdings, Inc. (NASDAQ:NMIH) gapped down before the market opened on Thursday after Royal Bank of Canada lowered their price target on the stock from $48.00 to $47.00. The stock had previously closed at $39.28, but opened at $36.96. Royal Bank of Canada currently has an outperform rating on the stock. NMI shares last traded at $36.71, with a volume of 75,944 shares trading hands.

NMIH has been the topic of several other research reports. StockNews.com cut NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their price target on NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods raised their price target on NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Truist Financial increased their price objective on NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Barclays increased their price objective on NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, NMI presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.29.

Insider Activity

In other news, insider William J. Leatherberry sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the sale, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On NMI

Several institutional investors and hedge funds have recently modified their holdings of NMIH. GAMMA Investing LLC increased its holdings in shares of NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 265 shares during the last quarter. Hancock Whitney Corp raised its stake in NMI by 1.6% in the first quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock valued at $715,000 after buying an additional 346 shares in the last quarter. Quarry LP raised its stake in NMI by 135.1% in the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after buying an additional 493 shares in the last quarter. Federated Hermes Inc. raised its stake in NMI by 1.8% in the second quarter. Federated Hermes Inc. now owns 33,570 shares of the financial services provider’s stock valued at $1,143,000 after buying an additional 593 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of NMI by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,888 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 666 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average of $40.28 and a 200-day moving average of $36.76. The stock has a market cap of $2.97 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.84 and a beta of 1.13.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $166.09 million for the quarter, compared to analyst estimates of $164.59 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. On average, equities analysts forecast that NMI Holdings, Inc. will post 4.5 EPS for the current year.

NMI Company Profile

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; 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.