NMI Holdings Inc (NASDAQ:NMIH) Upgraded to “Hold” at BidaskClub
NMI Holdings Inc (NASDAQ:NMIH) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
A number of other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods downgraded shares of NMI Holdings from an “outperform” rating to a “market perform” rating and set a $13.00 target price on the stock. in a research note on Monday, July 17th. Compass Point downgraded shares of NMI Holdings from a “buy” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research note on Tuesday. Deutsche Bank AG set a $15.00 target price on shares of NMI Holdings and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research cut shares of NMI Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.67.
Shares of NMI Holdings (NASDAQ:NMIH) traded down 2.42% during midday trading on Wednesday, hitting $12.10. The company had a trading volume of 75,178 shares. NMI Holdings has a 1-year low of $6.79 and a 1-year high of $12.55. The firm has a market capitalization of $724.33 million, a P/E ratio of 9.63 and a beta of 0.64. The stock has a 50 day moving average price of $11.57 and a 200 day moving average price of $11.26.
NMI Holdings (NASDAQ:NMIH) last announced its earnings results on Tuesday, August 1st. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $42.20 million for the quarter, compared to analysts’ expectations of $41.13 million. NMI Holdings had a net margin of 52.34% and a return on equity of 5.95%. The business’s revenue was up 43.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 EPS. On average, equities analysts anticipate that NMI Holdings will post $0.53 EPS for the current fiscal year.
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In other NMI Holdings news, CEO Bradley M. Shuster sold 89,227 shares of NMI Holdings stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $11.81, for a total transaction of $1,053,770.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Regina Muehlhauser bought 10,000 shares of NMI Holdings stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $11.03 per share, for a total transaction of $110,300.00. Following the completion of the purchase, the director now directly owns 21,578 shares of the company’s stock, valued at $238,005.34. The disclosure for this purchase can be found here. Over the last three months, insiders sold 159,227 shares of company stock worth $1,873,071. Insiders own 5.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NMIH. Dimensional Fund Advisors LP increased its stake in NMI Holdings by 43.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,637,267 shares of the financial services provider’s stock worth $17,437,000 after buying an additional 497,745 shares during the period. State Street Corp boosted its position in shares of NMI Holdings by 2.1% in the fourth quarter. State Street Corp now owns 916,665 shares of the financial services provider’s stock worth $9,761,000 after buying an additional 19,024 shares during the period. Mckinley Capital Management LLC Delaware boosted its position in shares of NMI Holdings by 4,029.4% in the first quarter. Mckinley Capital Management LLC Delaware now owns 123,469 shares of the financial services provider’s stock worth $1,408,000 after buying an additional 120,479 shares during the period. Strs Ohio boosted its position in shares of NMI Holdings by 26.5% in the first quarter. Strs Ohio now owns 64,400 shares of the financial services provider’s stock worth $734,000 after buying an additional 13,500 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of NMI Holdings by 55.3% in the first quarter. Wellington Management Group LLP now owns 2,177,377 shares of the financial services provider’s stock worth $24,822,000 after buying an additional 775,534 shares during the period. 80.73% 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 through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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