NMI Holdings Inc (NASDAQ:NMIH) Receives Average Recommendation of “Buy” from Analysts

Shares of NMI Holdings Inc (NASDAQ:NMIH) have earned an average recommendation of “Buy” from the eleven brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $30.63.

A number of brokerages have recently weighed in on NMIH. BTIG Research set a $36.00 price target on NMI and gave the company a “buy” rating in a report on Wednesday, July 31st. B. Riley set a $30.00 target price on NMI and gave the company a “hold” rating in a research note on Friday, August 2nd. Zelman & Associates upgraded NMI from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Zacks Investment Research upgraded NMI from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Friday, July 26th. Finally, BidaskClub downgraded NMI from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 7th.

Shares of NMIH stock traded up $0.80 on Friday, reaching $28.22. 10,325 shares of the company’s stock traded hands, compared to its average volume of 367,365. NMI has a 12-month low of $15.62 and a 12-month high of $31.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $1.89 billion, a P/E ratio of 16.92 and a beta of 1.28. The business’s 50 day moving average price is $27.33 and its two-hundred day moving average price is $27.28.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. NMI had a return on equity of 19.65% and a net margin of 41.31%. The business had revenue of $91.18 million for the quarter, compared to the consensus estimate of $85.11 million. Research analysts predict that NMI will post 2.4 earnings per share for the current year.

In related news, Director James Ozanne sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $27.86, for a total transaction of $278,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Adam Pollitzer sold 4,821 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $28.02, for a total value of $135,084.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,571 shares of company stock valued at $2,197,784. 4.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NMIH. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of NMI during the 2nd quarter worth about $34,000. Centaurus Financial Inc. acquired a new position in NMI in the 1st quarter valued at approximately $38,000. C M Bidwell & Associates Ltd. acquired a new position in NMI in the 2nd quarter valued at approximately $52,000. Point72 Hong Kong Ltd acquired a new position in NMI in the 2nd quarter valued at approximately $83,000. Finally, NumerixS Investment Technologies Inc raised its holdings in NMI by 994.2% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 3,271 shares in the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.

About NMI

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, Internet-sourced lenders, and other non-bank lenders.

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Analyst Recommendations for NMI (NASDAQ:NMIH)

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