NMI Holdings Inc. (NMIH) Shares Up 2%
NMI Holdings Inc. (NASDAQ:NMIH)’s share price shot up 2% during mid-day trading on Tuesday . The stock traded as high as $7.25 and last traded at $7.17, with a volume of 405,775 shares trading hands. The stock had previously closed at $7.03.
Several research firms recently commented on NMIH. Keefe, Bruyette & Woods set a $8.50 price objective on shares of NMI Holdings and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of NMI Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Zelman & Associates raised shares of NMI Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, April 27th. TheStreet raised shares of NMI Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. Finally, FBR & Co reissued a “buy” rating on shares of NMI Holdings in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $9.40.
The stock’s market cap is $427.50 million. The stock has a 50-day moving average of $6.22 and a 200 day moving average of $5.61.
NMI Holdings (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The company earned $29.50 million during the quarter, compared to analysts’ expectations of $24.79 million. Analysts forecast that NMI Holdings Inc. will post $0.15 EPS for the current year.
In related news, Director James Ozanne purchased 5,000 shares of NMI Holdings stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average price of $6.78 per share, with a total value of $33,900.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William J. Leatherberry purchased 7,000 shares of NMI Holdings stock in a transaction that occurred on Thursday, June 16th. The stock was bought at an average cost of $5.34 per share, for a total transaction of $37,380.00. Following the purchase, the executive vice president now directly owns 134,725 shares in the company, valued at $719,431.50. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in NMI Holdings stock. Dimensional Fund Advisors LP increased its stake in NMI Holdings Inc. (NASDAQ:NMIH) by 62.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 612,183 shares of the company’s stock after buying an additional 235,069 shares during the period. Dimensional Fund Advisors LP owned 1.04% of NMI Holdings worth $4,144,000 at the end of the most recent quarter.
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance (MI) through its insurance subsidiaries. The Company’s insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is an MI provider on loans purchased by Fannie Mae and Freddie Mac (collectively the Government-sponsored enterprises(GSEs)).
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