A number of other analysts have also recently weighed in on NMIH. ValuEngine cut shares of NMI from a buy rating to a hold rating in a research note on Saturday, July 27th. BTIG Research set a $36.00 price target on NMI and gave the company a buy rating in a research note on Wednesday, July 31st. Zelman & Associates raised NMI from a hold rating to a buy rating in a report on Friday, August 2nd. Zacks Investment Research raised NMI from a hold rating to a buy rating and set a $31.00 price objective on the stock in a report on Friday, July 26th. Finally, B. Riley set a $30.00 price objective on NMI and gave the stock a hold rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. NMI has a consensus rating of Buy and a consensus target price of $30.63.
NMIH opened at $26.91 on Friday. The company has a market cap of $1.86 billion, a P/E ratio of 16.21 and a beta of 1.27. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $27.10 and its 200-day moving average is $27.18. NMI has a 1-year low of $15.62 and a 1-year high of $31.34.
NMI (NASDAQ:NMIH) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The business had revenue of $91.18 million during the quarter, compared to analysts’ expectations of $85.11 million. NMI had a net margin of 41.31% and a return on equity of 19.65%. On average, equities analysts forecast that NMI will post 2.4 EPS for the current year.
In other NMI news, Chairman Bradley M. Shuster sold 25,625 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $27.95, for a total value of $716,218.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley M. Shuster sold 38,125 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $28.01, for a total transaction of $1,067,881.25. Following the transaction, the insider now directly owns 604,420 shares of the company’s stock, valued at approximately $16,929,804.20. The disclosure for this sale can be found here. Insiders have sold a total of 78,571 shares of company stock worth $2,197,784 over the last three months. Insiders own 4.20% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Centaurus Financial Inc. bought a new position in NMI during the 1st quarter worth $38,000. Ladenburg Thalmann Financial Services Inc. acquired a new position in NMI during the 2nd quarter worth about $34,000. C M Bidwell & Associates Ltd. bought a new stake in shares of NMI in the 2nd quarter valued at about $52,000. Point72 Hong Kong Ltd bought a new stake in shares of NMI in the 2nd quarter valued at about $83,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of NMI in the second quarter valued at about $94,000. 90.67% of the stock is currently owned by institutional investors.
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.
Further Reading: Cash Asset Ratio
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