NMI Holdings Inc. (NMIH) Shares Gap Up to $7.68
NMI Holdings Inc. (NASDAQ:NMIH)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $7.66, but opened at $7.68. NMI Holdings shares last traded at $7.80, with a volume of 159,381 shares changing hands.
Several research firms have recently weighed in on NMIH. Zacks Investment Research raised NMI Holdings from a “hold” rating to a “strong-buy” rating and set a $8.00 target price on the stock in a research report on Saturday, August 6th. FBR & Co reaffirmed a “buy” rating on shares of NMI Holdings in a research report on Tuesday, May 10th. BTIG Research reaffirmed a “buy” rating and issued a $10.00 price objective on shares of NMI Holdings in a research report on Thursday, May 19th. Keefe, Bruyette & Woods set a $8.50 price objective on NMI Holdings and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, TheStreet raised NMI Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. One 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’s stock. The company has an average rating of “Buy” and an average target price of $9.40.
The stock has a 50-day moving average price of $6.56 and a 200-day moving average price of $5.72. The stock’s market cap is $470.66 million.
NMI Holdings (NASDAQ:NMIH) last released its earnings results on Tuesday, August 2nd. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm earned $29.50 million during the quarter, compared to analysts’ expectations of $24.79 million. On average, analysts forecast that NMI Holdings Inc. will post $0.15 earnings per share for the current fiscal year.
In related news, Director James Ozanne acquired 5,000 shares of NMI Holdings stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average price of $6.78 per share, for a total transaction of $33,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William J. Leatherberry acquired 7,000 shares of NMI Holdings stock in a transaction that occurred on Thursday, June 16th. The shares were bought at an average price of $5.34 per share, for a total transaction of $37,380.00. Following the transaction, the executive vice president now owns 134,725 shares of the company’s stock, valued at approximately $719,431.50. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in NMI Holdings stock. Schwab Charles Investment Management Inc. increased its position in NMI Holdings Inc. (NASDAQ:NMIH) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,848 shares of the company’s stock after buying an additional 6,706 shares during the period. Schwab Charles Investment Management Inc. owned 0.29% of NMI Holdings worth $1,164,000 as of its most recent SEC filing.
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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