NMI (NASDAQ:NMIH) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a buy rating in a research report report published on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $36.00 price objective on the financial services provider’s stock.

According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “

A number of other equities research analysts also recently commented on NMIH. ValuEngine raised NMI from a sell rating to a hold rating in a report on Friday. Zelman & Associates raised NMI from a hold rating to a buy rating in a research note on Friday, August 2nd. BidaskClub downgraded NMI from a strong-buy rating to a buy rating in a research note on Saturday, September 7th. BTIG Research set a $36.00 price target on NMI and gave the stock a buy rating in a research note on Wednesday, July 31st. Finally, Credit Suisse Group initiated coverage on NMI in a research note on Thursday, October 10th. They set a neutral rating and a $30.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. NMI has an average rating of Buy and a consensus target price of $32.00.

Shares of NMIH traded up $0.92 during mid-day trading on Friday, reaching $32.91. 832,900 shares of the company’s stock were exchanged, compared to its average volume of 435,422. NMI has a 52-week low of $15.62 and a 52-week high of $33.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.43 and a quick ratio of 0.43. The business’s fifty day simple moving average is $28.22 and its 200-day simple moving average is $27.84. The stock has a market capitalization of $1.99 billion, a PE ratio of 19.83 and a beta of 1.25.

NMI (NASDAQ:NMIH) last released its earnings results on Wednesday, November 6th. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.09. NMI had a return on equity of 19.65% and a net margin of 41.31%. The company had revenue of $101.59 million during the quarter, compared to the consensus estimate of $94.67 million. Equities research analysts predict that NMI will post 2.4 earnings per share for the current year.

In related news, CFO Adam Pollitzer sold 4,821 shares of NMI stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $28.02, for a total transaction of $135,084.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Bradley M. Shuster sold 51,250 shares of NMI stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $29.06, for a total value of $1,489,325.00. Following the sale, the chairman now owns 543,552 shares of the company’s stock, valued at approximately $15,795,621.12. The disclosure for this sale can be found here. Insiders have sold a total of 200,693 shares of company stock valued at $5,669,366 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Insight Wealth Strategies LLC purchased a new stake in NMI during the 3rd quarter worth about $531,000. Mason Street Advisors LLC increased its position in NMI by 2.1% during the 3rd quarter. Mason Street Advisors LLC now owns 23,011 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 468 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in NMI during the 3rd quarter worth about $27,000. Carillon Tower Advisers Inc. increased its position in NMI by 28.3% during the 3rd quarter. Carillon Tower Advisers Inc. now owns 1,438,589 shares of the financial services provider’s stock worth $37,777,000 after purchasing an additional 317,391 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its position in NMI by 28.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,670,696 shares of the financial services provider’s stock worth $43,872,000 after purchasing an additional 365,801 shares in the last quarter. Hedge funds and other institutional investors own 90.61% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.

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Analyst Recommendations for NMI (NASDAQ:NMIH)

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