NMI (NASDAQ:NMIH) Trading Down 3.9% – What’s Next?

NMI Holdings, Inc. (NASDAQ:NMIH)’s share price traded down 3.9% during trading on Friday . The company traded as low as $37.15 and last traded at $37.17. 44,893 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 526,591 shares. The stock had previously closed at $38.68.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada raised NMI from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $48.00 in a report on Wednesday, September 18th. StockNews.com cut NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Truist Financial increased their price target on NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods increased their price target on NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price target on NMI from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, NMI currently has an average rating of “Moderate Buy” and an average target price of $43.43.

NMI Trading Down 4.9 %

The stock has a market cap of $2.93 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.88 and a beta of 1.13. The stock has a 50-day moving average price of $40.47 and a two-hundred day moving average price of $36.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67.

Insider Activity

In other news, insider William J. Leatherberry sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares in the company, valued at $6,158,318.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.

Institutional Trading of NMI

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in NMI by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,888 shares of the financial services provider’s stock worth $255,000 after buying an additional 666 shares during the period. BNP Paribas Financial Markets lifted its holdings in NMI by 47.0% during the first quarter. BNP Paribas Financial Markets now owns 90,240 shares of the financial services provider’s stock worth $2,918,000 after buying an additional 28,853 shares during the period. Fidelis Capital Partners LLC purchased a new stake in NMI during the first quarter worth $31,000. Daiwa Securities Group Inc. lifted its holdings in NMI by 588.9% during the first quarter. Daiwa Securities Group Inc. now owns 6,200 shares of the financial services provider’s stock worth $201,000 after buying an additional 5,300 shares during the period. Finally, Jennison Associates LLC lifted its holdings in NMI by 14.9% during the first quarter. Jennison Associates LLC now owns 51,705 shares of the financial services provider’s stock worth $1,672,000 after buying an additional 6,695 shares during the period. Hedge funds and other institutional investors 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.