NMI Holdings, Inc. (NASDAQ:NMIH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

NMI Holdings, Inc. (NASDAQ:NMIH) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $40.00.

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their price objective on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Barclays lifted their price objective on shares of NMI from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada raised their target price on shares of NMI from $34.00 to $40.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st.

NMI Price Performance

Shares of NMIH opened at $40.10 on Wednesday. NMI has a twelve month low of $25.62 and a twelve month high of $42.06. The company has a 50 day moving average of $37.92 and a two-hundred day moving average of $33.88. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.92 and a beta of 1.12.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.05 by $0.15. NMI had a net margin of 56.40% and a return on equity of 18.29%. The business had revenue of $162.12 million during the quarter, compared to the consensus estimate of $138.49 million. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, analysts predict that NMI will post 4.5 earnings per share for the current fiscal year.

Insider Buying and Selling at NMI

In other NMI news, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other NMI news, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction dated 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 completion of the sale, the director now owns 61,607 shares in the company, valued at approximately $2,424,235.45. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of NMI

Institutional investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new position in NMI during the second quarter worth about $29,000. Quarry LP boosted its position in NMI by 135.1% during the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 493 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in NMI during the first quarter worth about $31,000. TFO Wealth Partners LLC boosted 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. Finally, Picton Mahoney Asset Management acquired a new position in NMI during the second quarter worth about $63,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

About NMI

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.