B. Riley Reaffirms Buy Rating for NMI Holdings Inc (NMIH)
B. Riley reissued their buy rating on shares of NMI Holdings Inc (NASDAQ:NMIH) in a research report report published on Monday morning. B. Riley also issued estimates for NMI Holdings’ FY2017 earnings at $0.55 EPS, FY2018 earnings at $1.05 EPS and FY2019 earnings at $1.40 EPS.
Several other brokerages have also recently issued reports on NMIH. ValuEngine raised NMI Holdings from a hold rating to a buy rating in a research report on Friday, September 1st. BidaskClub cut NMI Holdings from a hold rating to a sell rating in a research report on Tuesday, August 15th. Compass Point cut NMI Holdings from a buy rating to a neutral rating and set a $13.00 price objective for the company. in a research report on Tuesday, August 8th. Deutsche Bank AG set a $16.00 price objective on NMI Holdings and gave the stock a buy rating in a research report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods cut NMI Holdings from an outperform rating to a market perform rating and set a $13.00 price objective for the company. in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $15.93.
Shares of NMI Holdings (NMIH) opened at $15.90 on Monday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $954.53, a price-to-earnings ratio of 27.90 and a beta of 0.75. NMI Holdings has a 52-week low of $8.45 and a 52-week high of $17.08.
NMI Holdings (NASDAQ:NMIH) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $48.95 million for the quarter, compared to analysts’ expectations of $45.79 million. NMI Holdings had a return on equity of 6.95% and a net margin of 51.80%. The business’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. equities research analysts forecast that NMI Holdings will post 0.56 earnings per share for the current fiscal year.
In other NMI Holdings news, VP Julie Norberg sold 16,600 shares of NMI Holdings stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $16.73, for a total transaction of $277,718.00. Following the completion of the sale, the vice president now owns 32,305 shares of the company’s stock, valued at approximately $540,462.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William J. Leatherberry purchased 5,000 shares of the stock in a transaction on Tuesday, August 29th. The shares were purchased at an average cost of $10.65 per share, with a total value of $53,250.00. The disclosure for this purchase can be found here. Insiders own 5.40% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. acquired a new stake in NMI Holdings during the 3rd quarter worth about $113,000. Nisa Investment Advisors LLC lifted its position in NMI Holdings by 9.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,580 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 800 shares during the period. Citadel Advisors LLC acquired a new stake in NMI Holdings during the 3rd quarter worth about $141,000. SG Americas Securities LLC acquired a new stake in NMI Holdings during the 3rd quarter worth about $156,000. Finally, Legal & General Group Plc lifted its position in NMI Holdings by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 13,003 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 1,047 shares during the period. 84.08% of the stock is owned by institutional investors.
About NMI Holdings
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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