NMI (NASDAQ:NMIH) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a buy rating in a report issued on Friday morning.

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

NMI Trading Up 0.1 %

Shares of NMI stock opened at $32.51 on Friday. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.17 and a beta of 1.06. NMI has a 1 year low of $22.49 and a 1 year high of $32.80. The company’s fifty day simple moving average is $30.57 and its 200-day simple moving average is $29.52. The company has a current ratio of 0.89, a quick ratio of 0.73 and a debt-to-equity ratio of 0.20.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The company had revenue of $156.25 million for the quarter, compared to the consensus estimate of $133.76 million. During the same quarter in the previous year, the firm posted $0.88 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts expect that NMI will post 4.18 EPS for the current year.

Insider Transactions at NMI

In related news, EVP Robert Owen Smith sold 3,000 shares of NMI 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 completion of the transaction, the executive vice president now directly owns 82,612 shares of the company’s stock, valued at approximately $2,576,668.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NMI news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $29.95, for a total value of $33,454.15. Following the transaction, the executive vice president now owns 32,909 shares of the company’s stock, valued at $985,624.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total value of $93,570.00. Following the sale, the executive vice president now owns 82,612 shares in the company, valued at approximately $2,576,668.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,158 shares of company stock valued at $4,395,582. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMIH. Daiwa Securities Group Inc. bought a new position in shares of NMI in the fourth quarter worth about $27,000. Fidelis Capital Partners LLC acquired a new stake in shares of NMI in the first quarter valued at approximately $31,000. TFO Wealth Partners LLC increased its holdings in shares of NMI by 24,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,225 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in NMI in the 4th quarter worth approximately $145,000. Finally, Quadrant Capital Group LLC lifted its holdings in NMI by 6.1% during the 4th quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

About NMI

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.