NMI (NASDAQ:NMIH) Shares Gap Down to $33.77

NMI Holdings, Inc. (NASDAQ:NMIH)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $33.77, but opened at $32.81. NMI shares last traded at $32.91, with a volume of 80,194 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group lowered shares of NMI from a “buy” rating to a “neutral” rating and lifted their target price for the company from $37.00 to $39.00 in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Compass Point lifted their price target on shares of NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Keefe, Bruyette & Woods lifted their price target on shares of NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada lifted their price target on shares of NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, NMI has an average rating of “Moderate Buy” and an average target price of $35.56.

NMI Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50 day simple moving average is $31.43 and its 200-day simple moving average is $30.05. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 1.16 and a beta of 1.06.

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. NMI had a return on equity of 18.09% and a net margin of 56.26%. The business had revenue of $156.25 million for the quarter, compared to analyst estimates of $133.76 million. During the same quarter in the previous year, the firm earned $0.88 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, sell-side analysts predict that NMI Holdings, Inc. will post 4.19 EPS for the current year.

Insider Transactions at NMI

In related news, EVP Robert Owen Smith sold 3,000 shares of the business’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 sale, the executive vice president now directly owns 82,612 shares in the company, valued at approximately $2,576,668.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Robert Owen Smith sold 3,000 shares of the business’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 sale, the executive vice president now directly owns 82,612 shares in the company, valued at approximately $2,576,668.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James G. Jones sold 54,900 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $30.16, for a total transaction of $1,655,784.00. Following the completion of the sale, the director now owns 57,641 shares in the company, valued at $1,738,452.56. The disclosure for this sale can be found here. Insiders have sold a total of 125,763 shares of company stock worth $3,808,175 in the last quarter. Company insiders own 2.40% of the company’s stock.

Institutional Trading of NMI

A number of institutional investors and hedge funds have recently bought and sold shares of NMIH. Daiwa Securities Group Inc. acquired a new position in shares of NMI during the fourth quarter worth about $27,000. Fidelis Capital Partners LLC acquired a new position in shares of NMI during the first quarter worth about $31,000. TFO Wealth Partners LLC grew its position in shares of NMI by 24,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,225 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of NMI during the fourth quarter worth about $145,000. Finally, Quadrant Capital Group LLC grew 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 buying an additional 350 shares in the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

About NMI

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.