NMI (NMIH) Downgraded to Hold at ValuEngine

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.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, October 30th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $71.76 million for the quarter. NMI had a return on equity of 15.86% and a net margin of 27.89%. As a group, equities analysts expect that NMI will post 1.6 EPS for the current fiscal year.

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.

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.

Recommended Story: Why do company’s buyback their stock?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NMI (NASDAQ:NMIH)

Receive News & Ratings for NMI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NMI and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply