ValuEngine cut shares of NMI (NASDAQ:NMIH) from a buy rating to a hold rating in a report released on Tuesday morning.
NMIH has been the topic of a number of other research reports. Barclays initiated coverage on NMI in a research report on Monday, September 10th. They issued an overweight rating and a $28.00 price target on the stock. BidaskClub upgraded NMI from a buy rating to a strong-buy rating in a research report on Thursday, September 13th. Compass Point raised their price target on NMI from $23.50 to $26.00 and gave the stock a buy rating in a research report on Wednesday, October 31st. Keefe, Bruyette & Woods cut NMI from an outperform rating to a market perform rating and set a $23.50 price target on the stock. in a research report on Monday, August 6th. Finally, Royal Bank of Canada restated a buy rating and issued a $24.00 price target on shares of NMI in a research report on Thursday, August 2nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $24.89.
NMIH stock opened at $18.98 on Tuesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 33.30 and a beta of 1.10. NMI has a fifty-two week low of $13.35 and a fifty-two week high of $24.50.
In related news, CEO Bradley M. Shuster sold 81,972 shares of NMI stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $21.24, for a total value of $1,741,085.28. Following the transaction, the chief executive officer now directly owns 643,056 shares of the company’s stock, valued at $13,658,509.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Bradley M. Shuster sold 83,184 shares of NMI stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $22.23, for a total value of $1,849,180.32. Following the completion of the transaction, the chief executive officer now directly owns 643,056 shares in the company, valued at $14,295,134.88. The disclosure for this sale can be found here. Insiders have sold 241,156 shares of company stock worth $5,206,026 over the last three months. Insiders own 5.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of NMI by 10.8% in the third quarter. BlackRock Inc. now owns 9,340,102 shares of the financial services provider’s stock worth $211,555,000 after acquiring an additional 910,843 shares during the period. FMR LLC increased its holdings in NMI by 4.7% in the second quarter. FMR LLC now owns 3,435,836 shares of the financial services provider’s stock worth $56,003,000 after purchasing an additional 153,882 shares in the last quarter. Primecap Management Co. CA increased its holdings in NMI by 4.3% in the third quarter. Primecap Management Co. CA now owns 2,268,449 shares of the financial services provider’s stock worth $51,380,000 after purchasing an additional 94,400 shares in the last quarter. Renaissance Technologies LLC increased its holdings in NMI by 4.5% in the third quarter. Renaissance Technologies LLC now owns 1,896,000 shares of the financial services provider’s stock worth $42,944,000 after purchasing an additional 81,100 shares in the last quarter. Finally, Capital International Investors bought a new stake in NMI in the third quarter worth approximately $26,455,000. 89.33% 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.
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