NMI (NASDAQ:NMIH) Trading 5.6% Higher

NMI Holdings Inc (NASDAQ:NMIH)’s stock price traded up 5.6% during trading on Monday . The stock traded as high as $29.69 and last traded at $29.38, 723,700 shares traded hands during mid-day trading. An increase of 66% from the average session volume of 435,655 shares. The stock had previously closed at $27.82.

Several equities analysts have commented on the stock. B. Riley upgraded shares of NMI from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $34.00 in a research note on Tuesday, October 15th. Credit Suisse Group assumed coverage on shares of NMI in a research note on Thursday, October 10th. They issued a “neutral” rating and a $30.00 price target for the company. Zacks Investment Research downgraded shares of NMI from a “hold” rating to a “sell” rating in a research note on Saturday. BidaskClub downgraded shares of NMI from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 7th. Finally, ValuEngine downgraded shares of NMI from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. NMI has a consensus rating of “Buy” and a consensus target price of $31.00.

The firm has a market capitalization of $1.90 billion, a PE ratio of 17.70 and a beta of 1.23. The company’s 50-day moving average price is $27.40 and its 200-day moving average price is $27.58. 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 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 Thomson Reuters’ 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%. As a group, analysts anticipate that NMI Holdings Inc will post 2.4 earnings per share for the current year.

In related news, insider Bradley M. Shuster sold 38,125 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $28.01, for a total value of $1,067,881.25. Following the completion of the sale, the insider now directly owns 604,420 shares of the company’s stock, valued at $16,929,804.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Adam Pollitzer sold 4,821 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $28.02, for a total transaction of $135,084.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,818 shares of company stock valued at $3,434,097. Corporate insiders own 4.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in NMI by 15.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,405 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 604 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in NMI by 13.3% in the third quarter. Nisa Investment Advisors LLC now owns 9,975 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 1,170 shares during the last quarter. Meeder Asset Management Inc. lifted its position in NMI by 136.2% in the third quarter. Meeder Asset Management Inc. now owns 21,310 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 12,288 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its position in NMI by 56.9% in the third quarter. Campbell & CO Investment Adviser LLC now owns 12,901 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 4,681 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in NMI by 125.9% in the third quarter. Assenagon Asset Management S.A. now owns 51,674 shares of the financial services provider’s stock valued at $1,357,000 after acquiring an additional 28,799 shares during the last quarter. 90.75% of the stock is owned by hedge funds and other institutional investors.

About NMI (NASDAQ:NMIH)

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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