NMI (NASDAQ:NMIH) Sets New 12-Month High Following Analyst Upgrade

NMI Holdings, Inc. (NASDAQ:NMIH)’s share price reached a new 52-week high during trading on Tuesday after Compass Point raised their price target on the stock from $33.00 to $36.00. Compass Point currently has a buy rating on the stock. NMI traded as high as $33.81 and last traded at $33.60, with a volume of 13605 shares traded. The stock had previously closed at $33.41.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods increased their target price on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, April 4th. Truist Financial lifted their price target on NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. StockNews.com raised NMI from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada raised their price objective on NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.22.

Insider Activity at NMI

In other NMI news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $29.95, for a total value of $33,454.15. Following the transaction, the executive vice president now directly owns 32,909 shares in the company, valued at approximately $985,624.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the transaction, the executive vice president now owns 82,612 shares of the company’s stock, valued at $2,576,668.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mohammad Nawaz Yousaf sold 1,117 shares of NMI stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $29.95, for a total transaction of $33,454.15. Following the sale, the executive vice president now owns 32,909 shares of the company’s stock, valued at $985,624.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,158 shares of company stock valued at $4,395,582. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On NMI

Hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. purchased a new position in shares of NMI during the fourth quarter worth $27,000. Fidelis Capital Partners LLC purchased a new position in NMI during the 1st quarter valued at about $31,000. TFO Wealth Partners LLC grew its position in NMI by 24,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,225 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in NMI during the fourth quarter worth about $145,000. Finally, Quadrant Capital Group LLC lifted its position in shares of NMI by 6.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Trading Up 1.4 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $2.72 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 1.17 and a beta of 1.06. The company’s 50 day moving average price is $30.66 and its 200 day moving average price is $29.59.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.96 by $0.12. The business had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. NMI had a net margin of 56.26% and a return on equity of 18.09%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. As a group, analysts forecast that NMI Holdings, Inc. will post 4.18 EPS for the current fiscal year.

NMI Company Profile

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; 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.