StockNews.com Upgrades NMI (NASDAQ:NMIH) to “Buy”

NMI (NASDAQ:NMIH) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other analysts have also recently issued reports on NMIH. JPMorgan Chase & Co. upped their price objective on shares of NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. UBS Group cut NMI from a “buy” rating to a “neutral” rating and increased their price target for the company from $37.00 to $39.00 in a report on Wednesday, May 22nd. Compass Point lifted their price objective on NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Truist Financial upped their target price on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.56.

NMI Stock Performance

Shares of NASDAQ:NMIH opened at $32.71 on Wednesday. The business’s 50 day moving average price is $32.14 and its 200-day moving average price is $30.75. NMI has a 1 year low of $24.53 and a 1 year high of $34.33. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $2.63 billion, a PE ratio of 8.10, a P/E/G ratio of 1.09 and a beta of 1.08.

NMI (NASDAQ:NMIH) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.12. The company had revenue of $156.25 million for the quarter, compared to analysts’ expectations of $133.76 million. NMI had a net margin of 56.26% and a return on equity of 18.09%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, equities research analysts expect that NMI will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling at NMI

In other NMI 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 transaction of $93,570.00. Following the completion of the sale, the executive vice president now directly owns 82,612 shares in the company, valued at $2,576,668.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors purchased a new stake in shares of NMI in the 1st quarter valued at $32,270,000. Goldentree Asset Management LP purchased a new stake in NMI during the first quarter worth about $22,600,000. Norges Bank acquired a new stake in shares of NMI during the fourth quarter worth about $20,006,000. Assenagon Asset Management S.A. boosted its stake in shares of NMI by 88.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider’s stock valued at $25,523,000 after purchasing an additional 402,793 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of NMI by 5.3% in the first quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock valued at $231,818,000 after purchasing an additional 358,930 shares in the last quarter. 94.12% of the stock is currently owned by hedge funds and other 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.