NMI (NASDAQ:NMIH) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of NMI (NASDAQ:NMIH) from a buy rating to a hold rating in a research note published on Monday.

Other equities analysts have also issued research reports about the company. Truist Financial raised their target price on NMI from $37.00 to $47.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on NMI from $40.00 to $42.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. Compass Point lifted their price target on NMI from $33.00 to $36.00 and gave the company a buy rating in a research note on Tuesday, May 7th. UBS Group lowered NMI from a buy rating to a neutral rating and lifted their price target for the company from $37.00 to $39.00 in a research note on Wednesday, May 22nd. Finally, Royal Bank of Canada lifted their price target on NMI from $34.00 to $40.00 and gave the company a sector perform rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, NMI currently has a consensus rating of Moderate Buy and a consensus price target of $40.00.

NMI Trading Up 0.6 %

NASDAQ:NMIH traded up $0.21 during midday trading on Monday, hitting $36.48. The stock had a trading volume of 688,287 shares, compared to its average volume of 540,581. The company has a quick ratio of 0.89, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 0.94 and a beta of 1.09. The stock has a 50-day moving average of $34.78 and a 200 day moving average of $32.32. NMI has a one year low of $25.62 and a one year high of $42.01.

NMI (NASDAQ:NMIH) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.15. The business had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. As a group, sell-side analysts forecast that NMI will post 4.33 EPS for the current year.

Insider Buying and Selling

In related news, insider William J. Leatherberry 44,725 shares of the stock in a transaction that occurred on Wednesday, July 31st. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider William J. Leatherberry 44,725 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction on 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 transaction, the director now owns 61,607 shares of the company’s stock, valued at approximately $2,424,235.45. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in 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 buying an additional 358,930 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of NMI by 23.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,407,610 shares of the financial services provider’s stock valued at $47,915,000 after purchasing an additional 263,250 shares during the last quarter. Capital International Investors acquired a new stake in shares of NMI in the first quarter valued at approximately $32,270,000. Charles Schwab Investment Management Inc. grew its position in shares of NMI by 9.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 980,783 shares of the financial services provider’s stock valued at $29,110,000 after purchasing an additional 81,727 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of NMI by 22.5% in the fourth quarter. Clearbridge Investments LLC now owns 804,527 shares of the financial services provider’s stock valued at $23,878,000 after purchasing an additional 147,941 shares during the last quarter. 94.12% of the stock is owned by hedge funds and other 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.