Barclays Raises NMI (NASDAQ:NMIH) Price Target to $48.00

NMI (NASDAQ:NMIH) had its price target increased by equities research analysts at Barclays from $43.00 to $48.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 15.94% from the company’s current price.

Several other analysts have also recently issued reports on NMIH. StockNews.com cut NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods lifted their price target on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. 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 report on Monday. Truist Financial raised their price objective on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada upgraded shares of NMI from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $48.00 in a research note on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, NMI currently has an average rating of “Moderate Buy” and a consensus price target of $42.13.

NMI Trading Up 1.5 %

Shares of NMI stock traded up $0.60 during trading hours on Tuesday, hitting $41.40. The company’s stock had a trading volume of 235,497 shares, compared to its average volume of 538,646. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 0.94 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. NMI has a twelve month low of $26.41 and a twelve month high of $42.49. The firm has a fifty day moving average of $39.71 and a 200-day moving average of $35.43.

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

Insider Buying and Selling

In other news, insider William J. Leatherberry sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider William J. Leatherberry sold 3,000 shares of the business’s 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 sale, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the transaction, the director now owns 61,607 shares in the company, valued at $2,424,235.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NMI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new position in shares of NMI in the second quarter worth $29,000. Quarry LP raised its stake in NMI by 135.1% in the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 493 shares during the last quarter. GAMMA Investing LLC lifted its holdings in NMI by 57.2% in the 3rd 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 in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of NMI during the 1st quarter worth about $31,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of NMI during the second quarter worth about $63,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

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.