NMI (NASDAQ:NMIH) Announces Earnings Results

NMI (NASDAQ:NMIH) posted its earnings results on Wednesday. The financial services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05, reports. NMI had a return on equity of 18.30% and a net margin of 56.20%. The company had revenue of $166.09 million for the quarter, compared to the consensus estimate of $164.59 million.

NMI Stock Down 0.4 %

NASDAQ NMIH traded down $0.15 on Friday, hitting $37.10. 560,758 shares of the stock traded hands, compared to its average volume of 445,410. The stock has a 50-day moving average of $40.20 and a 200 day moving average of $36.80. NMI has a twelve month low of $27.00 and a twelve month high of $42.49. The company has a market capitalization of $2.96 billion, a P/E ratio of 8.49, a price-to-earnings-growth ratio of 0.89 and a beta of 1.13. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.20.

Insider Buying and Selling at NMI

In other news, insider William J. Leatherberry sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares of the company’s stock, valued at $6,158,318.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is currently owned by corporate insiders.

Institutional Trading of NMI

Hedge funds and other institutional investors have recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of NMI in the second quarter valued at about $29,000. Quarry LP raised its stake in shares of NMI by 135.1% in the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 493 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 265 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of NMI in the first quarter valued at approximately $31,000. Finally, USA Financial Formulas bought a new position in NMI in the 3rd quarter worth approximately $57,000. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NMIH shares. Barclays boosted their price target on NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their price target on NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Truist Financial upped their target price on NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada dropped their target price on NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, StockNews.com lowered NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.29.

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.