NMI Holdings Inc. (NMIH) Sees Large Volume Increase
NMI Holdings Inc. (NASDAQ:NMIH) saw strong trading volume on Wednesday . 718,504 shares traded hands during trading, an increase of 116% from the previous session’s volume of 332,887 shares.The stock last traded at $7.23 and had previously closed at $7.15.
A number of equities analysts have recently weighed in 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 upgraded NMI Holdings from a “hold” rating to a “strong-buy” rating and set a $8.00 target price for the company in a report on Saturday, August 6th. FBR & Co restated a “buy” rating and set a $9.00 target price on shares of NMI Holdings in a report on Thursday, August 4th. Keefe, Bruyette & Woods set a $8.50 target price on NMI Holdings and gave the company a “buy” rating in a report on Wednesday, August 3rd. Finally, BTIG Research restated a “buy” rating and set a $10.00 target price on shares of NMI Holdings in a report on Tuesday, August 2nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $9.40.
The stock’s 50-day moving average is $6.22 and its 200 day moving average is $5.61. The company’s market capitalization is $427.50 million.
NMI Holdings (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. The company earned $29.50 million during the quarter, compared to analyst estimates of $24.79 million. On average, equities analysts expect that NMI Holdings Inc. will post $0.15 earnings per share for the current fiscal year.
In related news, Director James Ozanne purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average cost of $6.78 per share, with a total value of $33,900.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James G. Jones purchased 20,000 shares of the business’s stock in a transaction dated Thursday, June 16th. The stock was bought at an average cost of $5.45 per share, with a total value of $109,000.00. 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 position in NMI Holdings Inc. (NASDAQ:NMIH) by 62.3% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 612,183 shares of the company’s stock after buying an additional 235,069 shares during the period. Dimensional Fund Advisors LP owned about 1.04% of NMI Holdings worth $4,144,000 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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