BidaskClub Downgrades NMI Holdings Inc (NMIH) to Sell
NMI Holdings Inc (NASDAQ:NMIH) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
NMIH has been the subject of a number of other reports. Deutsche Bank AG set a $15.00 price objective on shares of NMI Holdings and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of NMI Holdings from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Keefe, Bruyette & Woods lowered shares of NMI Holdings from an “outperform” rating to a “market perform” rating and set a $13.00 price objective for the company. in a report on Monday, July 17th. Finally, Compass Point lowered shares of NMI Holdings from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. NMI Holdings presently has an average rating of “Hold” and an average target price of $12.67.
NMI Holdings (NASDAQ:NMIH) opened at 11.85 on Tuesday. The firm has a 50-day moving average of $11.76 and a 200-day moving average of $11.34. The stock has a market cap of $709.36 million, a PE ratio of 9.43 and a beta of 0.64. NMI Holdings has a 1-year low of $7.02 and a 1-year high of $12.70.
NMI Holdings (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. NMI Holdings had a net margin of 52.34% and a return on equity of 5.95%. The business had revenue of $42.20 million during the quarter, compared to analyst estimates of $41.13 million. During the same period last year, the firm posted $0.03 EPS. The company’s revenue was up 43.1% on a year-over-year basis. Analysts expect that NMI Holdings will post $0.52 EPS for the current fiscal year.
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In other NMI Holdings news, Director Regina Muehlhauser bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average cost of $11.03 per share, with a total value of $110,300.00. Following the completion of the acquisition, the director now owns 21,578 shares in the company, valued at approximately $238,005.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bradley M. Shuster sold 89,227 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $11.81, for a total transaction of $1,053,770.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 159,227 shares of company stock valued at $1,873,071. 5.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NMIH. Hancock Holding Co. raised its position in NMI Holdings by 4.3% in the second quarter. Hancock Holding Co. now owns 17,365 shares of the financial services provider’s stock worth $199,000 after buying an additional 715 shares during the period. Nisa Investment Advisors LLC raised its position in NMI Holdings by 9.1% in the second quarter. Nisa Investment Advisors LLC now owns 9,580 shares of the financial services provider’s stock worth $101,000 after buying an additional 800 shares during the period. Legal & General Group Plc raised its position in NMI Holdings by 8.8% in the second quarter. Legal & General Group Plc now owns 13,003 shares of the financial services provider’s stock worth $149,000 after buying an additional 1,047 shares during the period. Falcon Point Capital LLC raised its position in NMI Holdings by 0.5% in the second quarter. Falcon Point Capital LLC now owns 204,271 shares of the financial services provider’s stock worth $2,339,000 after buying an additional 1,055 shares during the period. Finally, Alpine Woods Capital Investors LLC raised its position in NMI Holdings by 10.0% in the second quarter. Alpine Woods Capital Investors LLC now owns 22,000 shares of the financial services provider’s stock worth $252,000 after buying an additional 2,000 shares during the period. 80.58% of the stock is owned by hedge funds and other institutional investors.
NMI Holdings Company Profile
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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