Barclays Issues Pessimistic Forecast for NMI (NASDAQ:NMIH) Stock Price

NMI (NASDAQ:NMIH) had its price objective reduced by equities research analysts at Barclays from $43.00 to $42.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 10.37% from the stock’s current price.

Several other analysts have also issued reports on the company. Truist Financial upped their target price on NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, July 31st. BTIG Research began coverage on NMI in a research report on Tuesday, September 22nd. They set a “buy” rating and a $54.00 price target for the company. JPMorgan Chase & Co. decreased their price target on NMI from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Bank of America lowered NMI from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $51.00 to $44.00 in a research report on Friday, October 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $53.00 price objective on shares of NMI in a research note on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, NMI has an average rating of “Moderate Buy” and an average target price of $47.75.

NMI Stock Down 14.0%

NMIH stock traded down $6.21 during midday trading on Friday, hitting $38.05. The company’s stock had a trading volume of 252,794 shares, compared to its average volume of 569,927. The company’s fifty day moving average price is $42.14 and its 200 day moving average price is $40.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.65 and a quick ratio of 0.65. NMI has a twelve month low of $35.12 and a twelve month high of $46.74. The stock has a market capitalization of $2.86 billion, a P/E ratio of 7.51, a PEG ratio of 1.44 and a beta of 0.52.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Thursday, November 5th. The financial services provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The business had revenue of $187.55 million for the quarter, compared to analyst estimates of $159.20 million. NMI had a return on equity of 15.13% and a net margin of 54.10%. During the same quarter in the prior year, the company earned $1.21 earnings per share. As a group, equities research analysts predict that NMI will post 5.26 EPS for the current year.

Insider Transactions at NMI

In related news, EVP Aurora Swithenbank sold 11,662 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $44.51, for a total value of $519,075.62. Following the completion of the sale, the executive vice president directly owned 50,734 shares in the company, valued at approximately $2,258,170.34. This trade represents a 18.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam Pollitzer sold 172,706 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the completion of the sale, the chief executive officer owned 270,267 shares of the company’s stock, valued at $12,121,474.95. This trade represents a 38.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. bought a new stake in shares of NMI in the second quarter valued at about $36,262,000. Bank of New York Mellon Corp bought a new position in NMI during the second quarter worth about $20,919,000. Winmill & CO. Inc. bought a new position in NMI during the second quarter worth about $16,276,000. Bank of America Corp DE raised its stake in NMI by 22.7% in the 1st quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider’s stock worth $48,937,000 after purchasing an additional 241,724 shares in the last quarter. Finally, Amundi raised its stake in NMI by 1,364.3% in the 1st quarter. Amundi now owns 168,246 shares of the financial services provider’s stock worth $6,311,000 after purchasing an additional 156,756 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors.

NMI News Roundup

Here are the key news stories impacting NMI this week:

• Positive Sentiment: EPS was $1.23, up from $1.21 a year earlier, indicating slight year-over-year earnings growth. Zacks earnings report
• Neutral Sentiment: Revenue coverage is inconsistent: some reports characterize sales as below estimates, while figures in the supplied MarketBeat summary show $187.55 million against a $159.20 million consensus. Yahoo Finance report
• Negative Sentiment: Quarterly EPS of $1.23 fell short of analyst consensus estimates, reported as approximately $1.30–$1.32 per share. The earnings miss is the clearest near-term headwind for the stock. Zacks Q3 analysis

NMI Company Profile

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a U.S.-based provider of private mortgage insurance. Through its insurance subsidiaries, the company helps lenders manage the risk associated with residential mortgage loans, particularly loans made to borrowers with down payments below traditional thresholds.

National MI primarily offers private mortgage insurance for residential purchase and refinance transactions. Its products are designed for mortgage lenders, banks, credit unions and other housing-finance institutions, helping them expand access to homeownership while transferring a portion of potential credit risk.