NMI Holdings, Inc. (NASDAQ:NMIH) Given Average Rating of “Moderate Buy” by Analysts

NMI Holdings, Inc. (NASDAQ:NMIH) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $41.00.

A number of research firms have recently issued reports on NMIH. Barclays increased their price target on shares of NMI from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. increased their price target on shares of NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial increased their price target on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods increased their price target on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st.

NMI Price Performance

NMIH stock opened at $41.27 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.20. NMI has a one year low of $26.41 and a one year high of $42.49. The firm has a market capitalization of $3.31 billion, a PE ratio of 10.22, a P/E/G ratio of 0.94 and a beta of 1.12. The firm has a 50-day moving average of $39.68 and a two-hundred day moving average of $35.34.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. NMI had a net margin of 56.40% and a return on equity of 18.29%. The company had revenue of $162.12 million during the quarter, compared to analyst estimates of $138.49 million. During the same period in the prior year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts forecast that NMI will post 4.5 earnings per share for the current year.

Insider Buying and Selling

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the transaction, the insider now owns 153,689 shares in the company, valued at $6,158,318.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Michael J. Embler sold 26,008 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total value of $1,023,414.80. Following the sale, the director now owns 61,607 shares in the company, valued at approximately $2,424,235.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NMI

Hedge funds and other institutional investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of NMI in the second quarter worth $29,000. Quarry LP lifted its position in NMI by 135.1% in the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 493 shares during the period. Fidelis Capital Partners LLC bought a new position in NMI in the first quarter worth $31,000. Picton Mahoney Asset Management bought a new position in NMI in the second quarter worth $63,000. Finally, CWM LLC lifted its position in NMI by 92.7% in the second quarter. CWM LLC now owns 2,974 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 1,431 shares during the period. Institutional investors and hedge funds own 94.12% of the company’s stock.

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.