NMI (NASDAQ:NMIH) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Several other equities research analysts also recently commented on NMIH. Keefe, Bruyette & Woods lifted their target price on shares of NMI from $37.00 to $40.00 and gave the stock a market perform rating in a research report on Thursday, August 1st. Truist Financial boosted their price objective on shares of NMI from $37.00 to $47.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. UBS Group lowered NMI from a buy rating to a neutral rating and raised their target price for the stock from $37.00 to $39.00 in a research report on Wednesday, May 22nd. Royal Bank of Canada upped their price target on NMI from $34.00 to $40.00 and gave the company a sector perform rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on NMI from $40.00 to $42.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, NMI has a consensus rating of Moderate Buy and an average price target of $40.00.

NMI Stock Up 0.7 %

Shares of NMIH opened at $38.26 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.67. NMI has a 52 week low of $25.62 and a 52 week high of $42.01. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.94 and a beta of 1.09. The stock has a fifty day moving average of $35.63 and a 200-day moving average of $32.74.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. NMI had a return on equity of 18.29% and a net margin of 56.40%. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $138.49 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that NMI will post 4.33 earnings per share for the current fiscal year.

Insider Activity at NMI

In other NMI news, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the sale, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NMI

Several institutional investors have recently made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new position in NMI during the 2nd quarter worth approximately $29,000. Quarry LP raised its position in shares of NMI by 135.1% during the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 493 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of NMI during the fourth quarter worth approximately $27,000. Fidelis Capital Partners LLC bought a new position in shares of NMI in the 1st quarter worth $31,000. Finally, 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 purchasing an additional 1,225 shares during the period. Institutional investors and hedge funds own 94.12% of the company’s stock.

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.