NMI (NASDAQ:NMIH) Stock Rating Lowered by StockNews.com

NMI (NASDAQ:NMIHGet Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

NMIH has been the topic of several other research reports. Citigroup lowered their price target on shares of NMI from $32.00 to $28.00 in a report on Tuesday, May 10th. Royal Bank of Canada lowered shares of NMI from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $27.00 to $20.00 in a report on Thursday, June 23rd. BTIG Research decreased their price objective on shares of NMI from $30.00 to $27.00 in a report on Tuesday, April 12th. Finally, TheStreet lowered shares of NMI from a “b-” rating to a “c+” rating in a report on Tuesday, May 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.36.

NMI Stock Performance

Shares of NMIH opened at $20.80 on Thursday. The company’s 50 day moving average price is $17.70 and its 200 day moving average price is $19.96. NMI has a 52 week low of $15.33 and a 52 week high of $27.25. The company has a market capitalization of $1.79 billion, a PE ratio of 6.91 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.57.

NMI (NASDAQ:NMIHGet Rating) last posted its earnings results on Wednesday, May 4th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. NMI had a net margin of 51.86% and a return on equity of 17.40%. The company had revenue of $127.44 million during the quarter, compared to the consensus estimate of $127.70 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts expect that NMI will post 3.33 EPS for the current fiscal year.

Insider Buying and Selling at NMI

In other news, Director Michael Curry Montgomery sold 1,796 shares of the business’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $18.39, for a total transaction of $33,028.44. Following the sale, the director now directly owns 40,424 shares in the company, valued at $743,397.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On NMI

Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of NMI during the fourth quarter worth approximately $729,000. Yousif Capital Management LLC bought a new position in shares of NMI during the 4th quarter worth $1,715,000. Assenagon Asset Management S.A. lifted its holdings in NMI by 13.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 137,381 shares of the financial services provider’s stock worth $3,002,000 after purchasing an additional 16,708 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in NMI by 24.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,680 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 1,926 shares in the last quarter. Finally, Virginia Retirement Systems ET AL raised its holdings in shares of NMI by 7.3% in the 4th quarter. Virginia Retirement Systems ET AL now owns 48,400 shares of the financial services provider’s stock valued at $1,058,000 after acquiring an additional 3,300 shares in the last quarter. 95.68% of the stock is owned by institutional investors and hedge funds.

About NMI

(Get Rating)

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services; 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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