NMI (NASDAQ:NMIH) Raised to Buy at BidaskClub

BidaskClub upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a buy rating in a research report report published on Tuesday, BidAskClub reports.

NMIH has been the topic of a number of other research reports. Zacks Investment Research raised shares of NMI from a hold rating to a buy rating and set a $31.00 target price on the stock in a research note on Friday, July 26th. Zelman & Associates raised shares of NMI from a hold rating to a buy rating in a research note on Friday, August 2nd. Compass Point reissued a buy rating and issued a $33.00 target price (up previously from $30.50) on shares of NMI in a research note on Thursday, May 2nd. B. Riley upped their target price on shares of NMI from $28.00 to $30.00 and gave the company a neutral rating in a research note on Wednesday, June 26th. Finally, BTIG Research set a $36.00 target price on shares of NMI and gave the company a buy rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. NMI currently has an average rating of Buy and an average target price of $30.63.

NASDAQ NMIH opened at $27.41 on Tuesday. The company has a market capitalization of $1.81 billion, a PE ratio of 12.87 and a beta of 1.29. The company has a 50-day simple moving average of $27.39. NMI has a twelve month low of $15.62 and a twelve month high of $31.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.43 and a current ratio of 0.43.

NMI (NASDAQ:NMIH) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. The business had revenue of $91.18 million for 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%. As a group, equities analysts predict that NMI will post 2.4 EPS for the current year.

In other NMI news, CFO Adam Pollitzer sold 4,092 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $28.05, for a total transaction of $114,780.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in NMI by 44.8% during the first quarter. FMR LLC now owns 2,501,047 shares of the financial services provider’s stock worth $64,702,000 after buying an additional 773,781 shares during the last quarter. Ellis Investment Partners LLC grew its stake in NMI by 2,203.8% during the first quarter. Ellis Investment Partners LLC now owns 1,384,458 shares of the financial services provider’s stock worth $1,384,000 after buying an additional 1,324,364 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in NMI during the second quarter worth about $37,045,000. Carillon Tower Advisers Inc. bought a new stake in NMI during the second quarter worth about $31,831,000. Finally, Boston Partners grew its stake in NMI by 3.0% during the first quarter. Boston Partners now owns 813,142 shares of the financial services provider’s stock worth $21,036,000 after buying an additional 23,808 shares during the last quarter. 90.08% of the stock is currently owned by hedge funds and other 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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