NMI (NASDAQ:NMIH) Shares Gap Down on Analyst Downgrade

NMI Holdings, Inc. (NASDAQ:NMIH)’s share price gapped down before the market opened on Thursday after Royal Bank of Canada lowered their price target on the stock from $48.00 to $47.00. The stock had previously closed at $39.28, but opened at $36.96. Royal Bank of Canada currently has an outperform rating on the stock. NMI shares last traded at $36.71, with a volume of 75,944 shares changing hands.

Several other analysts have also issued reports on the stock. Truist Financial upped their price target on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. increased their price objective on NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Barclays raised their target price on shares of NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price target on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.29.

Insiders Place Their Bets

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On NMI

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of NMI by 57.2% during the 3rd quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 265 shares during the last quarter. Hancock Whitney Corp raised its stake in shares of NMI by 1.6% in the first quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock valued at $715,000 after acquiring an additional 346 shares during the period. Quarry LP lifted its holdings in shares of NMI by 135.1% in the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 493 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of NMI by 1.8% in the 2nd quarter. Federated Hermes Inc. now owns 33,570 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 593 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of NMI by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,888 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 666 shares during the period. Institutional investors own 94.12% of the company’s stock.

NMI Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $2.93 billion, a P/E ratio of 8.67, a P/E/G ratio of 0.84 and a beta of 1.13. The firm’s fifty day moving average is $40.34 and its 200 day moving average is $36.76.

NMI (NASDAQ:NMIH) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.05. The business had revenue of $166.09 million during the quarter, compared to the consensus estimate of $164.59 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. As a group, analysts predict that NMI Holdings, Inc. will post 4.5 earnings per share for the current fiscal year.

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.