NMI Holdings Inc. (NMIH) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of NMI Holdings Inc. (NASDAQ:NMIH) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $9.00 price objective on the stock.
According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “
Several other brokerages have also recently weighed in on NMIH. FBR & Co reaffirmed an outperform rating on shares of NMI Holdings in a research note on Friday, September 23rd. TheStreet raised NMI Holdings from a sell rating to a hold rating in a research note on Friday, August 12th. Keefe, Bruyette & Woods set a $8.50 price target on NMI Holdings and gave the stock a buy rating in a research note on Wednesday, August 3rd. Finally, BTIG Research reaffirmed a buy rating and issued a $10.00 price target on shares of NMI Holdings in a research note on Tuesday, August 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $9.60.
Shares of NMI Holdings (NASDAQ:NMIH) traded down 0.38% during trading on Wednesday, reaching $7.95. The company’s stock had a trading volume of 17,830 shares. The firm’s market cap is $470.07 million. The stock’s 50 day moving average is $7.81 and its 200 day moving average is $6.41. NMI Holdings has a one year low of $4.19 and a one year high of $8.20.
NMI Holdings (NASDAQ:NMIH) last posted its earnings results on Tuesday, August 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. NMI Holdings had a negative return on equity of 2.80% and a negative net margin of 13.51%. The firm had revenue of $29.50 million for the quarter, compared to analysts’ expectations of $24.79 million. On average, equities analysts forecast that NMI Holdings will post $0.15 EPS for the current fiscal year.
In related news, Director James Ozanne bought 5,000 shares of the company’s stock in a transaction on Friday, August 26th. The shares were acquired at an average cost of $7.92 per share, with a total value of $39,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in NMIH. Oxford Asset Management bought a new stake in NMI Holdings during the second quarter valued at approximately $674,000. Airain ltd bought a new stake in NMI Holdings during the second quarter valued at approximately $210,000. CI Investments Inc. increased its stake in NMI Holdings by 1.0% in the second quarter. CI Investments Inc. now owns 3,186,990 shares of the company’s stock valued at $17,465,000 after buying an additional 31,641 shares during the period. GSA Capital Partners LLP bought a new stake in NMI Holdings during the second quarter valued at approximately $704,000. Finally, Mutual of America Capital Management LLC bought a new stake in NMI Holdings during the second quarter valued at approximately $2,193,000. 80.37% of the stock is currently owned by institutional investors and hedge funds.
NMI Holdings Company Profile
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)).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NMI Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NMI Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.