BidaskClub Downgrades NMI (NASDAQ:NMIH) to Buy

BidaskClub lowered shares of NMI (NASDAQ:NMIH) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning, BidAskClub reports.

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.

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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