NMI Holdings Inc. (NMIH) Sees Unusually-High Trading Volume
Shares of NMI Holdings Inc. (NASDAQ:NMIH) saw strong trading volume on Tuesday . 493,485 shares changed hands during mid-day trading, an increase of 20% from the previous session’s volume of 411,134 shares.The stock last traded at $7.98 and had previously closed at $8.05.
Several equities research analysts have issued reports on the company. TheStreet upgraded NMI Holdings from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Zacks Investment Research raised NMI Holdings from a “hold” rating to a “strong-buy” rating and set a $8.00 price target for the company in a research report on Saturday, August 6th. FBR & Co reissued a “buy” rating and set a $9.00 price target on shares of NMI Holdings in a research report on Thursday, August 4th. Keefe, Bruyette & Woods set a $8.50 price target on NMI Holdings and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, BTIG Research reissued a “buy” rating and set a $10.00 price target on shares of NMI Holdings in a research report on Tuesday, August 2nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.40.
The firm’s market cap is $471.84 million. The stock’s 50-day moving average is $6.82 and its 200 day moving average is $5.83.
NMI Holdings (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.03 EPS 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. Equities research analysts expect that NMI Holdings Inc. will post $0.15 earnings per share for the current year.
In other news, Director James G. Jones purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were purchased at an average price of $5.45 per share, with a total value of $109,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Ozanne purchased 5,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was purchased at an average cost of $7.92 per share, for a total transaction of $39,600.00. The disclosure for this purchase can be found here.
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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