NMI (NASDAQ:NMIH) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a buy rating in a research note released on Friday, Zacks.com reports. The firm currently has $37.00 target price on the financial services provider’s stock.

According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “

Other equities analysts have also recently issued reports about the company. Credit Suisse Group reiterated a hold rating and set a $33.00 target price on shares of NMI in a research note on Sunday, November 24th. B. Riley increased their target price on NMI from $36.00 to $38.00 and gave the company a buy rating in a research note on Friday, December 6th. BidaskClub cut NMI from a hold rating to a sell rating in a research note on Tuesday, January 7th. Finally, ValuEngine lowered NMI from a sell rating to a strong sell rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $34.14.

NMI stock opened at $33.53 on Friday. The stock has a market cap of $2.28 billion, a P/E ratio of 15.31 and a beta of 1.29. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $33.18 and a 200-day moving average of $29.70. NMI has a 52 week low of $19.48 and a 52 week high of $35.79.

NMI (NASDAQ:NMIH) last released its earnings results on Wednesday, November 6th. The financial services provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.09. The company had revenue of $101.59 million during the quarter, compared to analysts’ expectations of $94.67 million. NMI had a return on equity of 20.63% and a net margin of 44.92%. As a group, equities analysts predict that NMI will post 2.56 earnings per share for the current fiscal year.

In related news, EVP William J. Leatherberry sold 7,674 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $33.49, for a total transaction of $257,002.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Adam Pollitzer sold 7,089 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $33.73, for a total value of $239,111.97. Following the sale, the chief financial officer now directly owns 176,919 shares in the company, valued at $5,967,477.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 379,676 shares of company stock worth $12,354,236. Corporate insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mason Street Advisors LLC increased its position in NMI by 2.1% in the third quarter. Mason Street Advisors LLC now owns 23,011 shares of the financial services provider’s stock worth $604,000 after buying an additional 468 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of NMI by 2.4% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 20,340 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 470 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in shares of NMI by 2.8% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 21,118 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 570 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NMI by 15.9% in the 3rd 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 in the last quarter. Finally, Mackay Shields LLC raised its stake in shares of NMI by 0.5% in the 3rd quarter. Mackay Shields LLC now owns 152,382 shares of the financial services provider’s stock valued at $4,001,000 after acquiring an additional 800 shares in the last quarter. 90.26% 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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