NMI (NASDAQ:NMIH) Upgraded to “Buy” at StockNews.com

NMI (NASDAQ:NMIH) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other research firms also recently commented on NMIH. Keefe, Bruyette & Woods boosted their target price on shares of NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Royal Bank of Canada boosted their price target on shares of NMI from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. Truist Financial raised their price objective on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.67.

NMI Price Performance

NASDAQ:NMIH traded up $0.04 on Friday, reaching $32.51. 618,284 shares of the company’s stock traded hands, compared to its average volume of 553,399. The stock has a 50-day simple moving average of $30.57 and a 200-day simple moving average of $29.52. NMI has a 12 month low of $22.49 and a 12 month high of $32.80. The firm has a market cap of $2.62 billion, a PE ratio of 8.05, a P/E/G ratio of 1.16 and a beta of 1.06. The company has a quick ratio of 0.73, a current ratio of 0.89 and a debt-to-equity ratio of 0.20.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The company had revenue of $156.25 million for the quarter, compared to the consensus estimate of $133.76 million. During the same quarter last year, the company earned $0.88 EPS. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. Equities research analysts forecast that NMI will post 4.09 earnings per share for the current year.

Insider Buying and Selling

In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total transaction of $93,570.00. Following the sale, the executive vice president now directly owns 82,612 shares in the company, valued at $2,576,668.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Bradley M. Shuster sold 6,559 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $29.81, for a total value of $195,523.79. Following the completion of the sale, the chairman now owns 453,298 shares in the company, valued at approximately $13,512,813.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction of $93,570.00. Following the transaction, the executive vice president now owns 82,612 shares in the company, valued at $2,576,668.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,158 shares of company stock worth $4,395,582. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of NMI

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of NMI in the fourth quarter worth approximately $20,006,000. Assenagon Asset Management S.A. boosted its stake in shares of NMI by 88.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider’s stock valued at $25,523,000 after purchasing an additional 402,793 shares during the period. Vanguard Group Inc. boosted its stake in shares of NMI by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 6,809,208 shares of the financial services provider’s stock valued at $202,097,000 after purchasing an additional 225,364 shares during the period. Van Berkom & Associates Inc. increased its stake in NMI by 7.3% in the 3rd quarter. Van Berkom & Associates Inc. now owns 2,708,797 shares of the financial services provider’s stock worth $73,381,000 after buying an additional 185,099 shares during the period. Finally, Comerica Bank purchased a new position in NMI in the 3rd quarter worth about $4,914,000. Institutional investors own 94.12% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; 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.