StockNews.com Downgrades NMI (NASDAQ:NMIH) to Hold

StockNews.com downgraded shares of NMI (NASDAQ:NMIH) from a buy rating to a hold rating in a report published on Wednesday.

A number of other analysts have also issued reports on NMIH. Truist Financial raised their target price on NMI from $37.00 to $47.00 and gave the company a buy rating in a report on Wednesday, July 31st. Compass Point boosted their target price on shares of NMI from $33.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Royal Bank of Canada upped their target price on shares of NMI from $34.00 to $40.00 and gave the company a sector perform rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of NMI from $40.00 to $42.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Finally, UBS Group cut shares of NMI from a buy rating to a neutral rating and increased their target price for the company from $37.00 to $39.00 in a research note on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, NMI has an average rating of Moderate Buy and a consensus target price of $40.00.

NMI Price Performance

Shares of NMIH opened at $39.80 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.67. The firm has a market cap of $3.19 billion, a PE ratio of 9.85, a PEG ratio of 0.94 and a beta of 1.09. The firm’s 50 day moving average price is $36.29 and its 200 day moving average price is $32.99. NMI has a twelve month low of $25.62 and a twelve month high of $42.01.

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. The company had revenue of $162.12 million for the quarter, compared to analyst estimates of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. As a group, research analysts expect that NMI will post 4.33 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $1,023,414.80. Following the sale, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Daiwa Securities Group Inc. bought a new position in NMI during the fourth quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in shares of NMI during the 2nd quarter worth about $29,000. Quarry LP grew 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 buying an additional 493 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in NMI in the 1st quarter valued at about $31,000. Finally, TFO Wealth Partners LLC lifted its position in NMI by 24,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,225 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors.

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.