NMI Holdings, Inc. (NASDAQ:NMIH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of NMI Holdings, Inc. (NASDAQ:NMIH) have received an average rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $43.29.

NMIH has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on shares of NMI from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Truist Financial lifted their price objective on NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada lowered their price objective on NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Thursday, August 1st.

NMI Trading Up 1.2 %

Shares of NMIH stock opened at $38.73 on Monday. NMI has a 1-year low of $27.00 and a 1-year high of $42.49. The firm has a market cap of $3.06 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 0.93 and a beta of 1.13. The company has a 50-day moving average of $39.69 and a two-hundred day moving average of $37.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83.

Insider Transactions at NMI

In other news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now owns 153,689 shares in the company, valued at approximately $6,158,318.23. This represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Institutional Trading of NMI

A number of hedge funds have recently added to or reduced their stakes in NMIH. Opal Wealth Advisors LLC purchased a new position in NMI in the 2nd quarter valued at $29,000. Quarry LP boosted its holdings in shares of 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 acquiring an additional 493 shares in the last quarter. GAMMA Investing LLC boosted 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 acquiring an additional 265 shares in the last quarter. USA Financial Formulas purchased a new position in NMI during the third quarter worth about $57,000. Finally, Picton Mahoney Asset Management purchased a new position in NMI during the second quarter worth about $63,000. 94.12% of the stock is owned by institutional investors and hedge funds.

About NMI

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.