NMI (NASDAQ:NMIH) Sets New 52-Week High at $42.08

NMI Holdings, Inc. (NASDAQ:NMIH)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $42.08 and last traded at $42.06, with a volume of 70695 shares changing hands. The stock had previously closed at $41.73.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target 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. Royal Bank of Canada raised NMI from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $40.00 to $48.00 in a research note on Wednesday. Truist Financial boosted their price target on NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays lifted their target price on shares of NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, UBS Group lowered shares of NMI from a “buy” rating to a “neutral” rating and increased their price target for the stock from $37.00 to $39.00 in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

NMI Stock Performance

The stock’s 50-day moving average price is $38.82 and its 200 day moving average price is $34.39. 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 $3.33 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 0.89 and a beta of 1.12.

NMI (NASDAQ:NMIH) last announced its earnings results 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 firm had revenue of $162.12 million for the quarter, compared to the consensus estimate of $138.49 million. During the same quarter last year, the firm posted $0.95 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, research analysts expect that NMI Holdings, Inc. will post 4.5 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On NMI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd acquired a new stake in shares of NMI during the 1st quarter worth approximately $507,000. First Eagle Investment Management LLC boosted its stake in NMI by 17.6% during the first quarter. First Eagle Investment Management LLC now owns 403,019 shares of the financial services provider’s stock worth $13,034,000 after buying an additional 60,200 shares in the last quarter. Leuthold Group LLC bought a new stake in NMI in the 1st quarter valued at $2,987,000. Norges Bank acquired a new position in shares of NMI in the 4th quarter valued at $20,006,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of NMI during the 1st quarter worth about $532,000. 94.12% of the stock is currently owned by institutional investors.

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.