NMI (NASDAQ:NMIH) Hits New 12-Month High After Analyst Upgrade

NMI Holdings, Inc. (NASDAQ:NMIH)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Compass Point raised their price target on the stock from $33.00 to $36.00. Compass Point currently has a buy rating on the stock. NMI traded as high as $33.81 and last traded at $33.60, with a volume of 13605 shares traded. The stock had previously closed at $33.41.

A number of other equities research analysts have also issued reports on the stock. StockNews.com upgraded shares of NMI from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Keefe, Bruyette & Woods increased their target price on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Truist Financial boosted their price target on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their target price on shares of NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.22.

Insider Transactions at NMI

In related news, EVP Robert Owen Smith sold 3,000 shares of NMI stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the sale, the executive vice president now directly owns 82,612 shares in the company, valued at approximately $2,576,668.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other NMI news, EVP Robert Owen Smith sold 3,000 shares of NMI stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total transaction of $93,570.00. Following the sale, the executive vice president now owns 82,612 shares of the company’s stock, valued at approximately $2,576,668.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bradley M. Shuster sold 6,559 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $29.81, for a total value of $195,523.79. Following the completion of the transaction, the chairman now directly owns 453,298 shares of the company’s stock, valued at approximately $13,512,813.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,158 shares of company stock worth $4,395,582. Insiders own 2.40% of the company’s stock.

Institutional Trading of NMI

A number of institutional investors have recently made changes to their positions in NMIH. Susquehanna Fundamental Investments LLC bought a new stake in NMI during the first quarter worth approximately $532,000. SG Americas Securities LLC boosted its stake in NMI by 101.1% during the first quarter. SG Americas Securities LLC now owns 10,003 shares of the financial services provider’s stock valued at $323,000 after buying an additional 5,028 shares in the last quarter. Empowered Funds LLC grew its holdings in NMI by 8.3% during the first quarter. Empowered Funds LLC now owns 95,903 shares of the financial services provider’s stock worth $3,102,000 after acquiring an additional 7,364 shares during the period. Quantbot Technologies LP lifted its holdings in NMI by 56.2% in the 1st quarter. Quantbot Technologies LP now owns 29,173 shares of the financial services provider’s stock valued at $943,000 after acquiring an additional 10,491 shares during the last quarter. Finally, Leuthold Group LLC bought a new position in shares of NMI during the 1st quarter valued at about $2,987,000. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Price Performance

The firm has a market capitalization of $2.70 billion, a P/E ratio of 8.33, a P/E/G ratio of 1.17 and a beta of 1.06. The business’s fifty day moving average is $30.74 and its 200 day moving average is $29.63. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. The company had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. NMI had a return on equity of 18.09% and a net margin of 56.26%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. As a group, analysts forecast that NMI Holdings, Inc. will post 4.18 EPS for the current year.

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.