NMI Holdings Inc (NMIH) Rating Lowered to Hold at ValuEngine
NMI Holdings Inc (NASDAQ:NMIH) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Monday.
Other research analysts have also recently issued reports about the stock. 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. Keefe, Bruyette & Woods reissued a “hold” rating and set a $13.00 target price on shares of NMI Holdings in a report on Thursday, August 31st. Zacks Investment Research upgraded NMI Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub upgraded NMI Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Compass Point downgraded NMI Holdings from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.67.
NMI Holdings (NASDAQ:NMIH) traded down 2.42% during midday trading on Monday, hitting $12.10. 614,220 shares of the stock were exchanged. The stock has a market cap of $724.33 million, a price-to-earnings ratio of 9.38 and a beta of 0.69. The firm’s 50-day moving average is $11.38 and its 200 day moving average is $11.40. NMI Holdings has a 52 week low of $7.12 and a 52 week high of $12.70.
NMI Holdings (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $42.20 million for the quarter, compared to the consensus estimate of $41.13 million. NMI Holdings had a net margin of 52.34% and a return on equity of 5.95%. NMI Holdings’s revenue was up 43.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. Equities research analysts expect that NMI Holdings will post $0.52 EPS for the current fiscal year.
In related news, CEO Bradley M. Shuster sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $11.79, for a total transaction of $353,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William J. Leatherberry bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $10.65 per share, with a total value of $53,250.00. The disclosure for this purchase can be found here. Insiders sold a total of 149,227 shares of company stock worth $1,760,571 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of NMIH. Capital Research Global Investors grew its position in NMI Holdings by 72.5% in the second quarter. Capital Research Global Investors now owns 3,481,202 shares of the financial services provider’s stock worth $39,860,000 after buying an additional 1,462,624 shares during the last quarter. Next Century Growth Investors LLC bought a new position in shares of NMI Holdings in the first quarter valued at $14,671,000. Wellington Management Group LLP lifted its position in shares of NMI Holdings by 55.3% during the 1st quarter. Wellington Management Group LLP now owns 2,177,377 shares of the financial services provider’s stock valued at $24,822,000 after acquiring an additional 775,534 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of NMI Holdings by 849.8% during the 2nd quarter. Wells Fargo & Company MN now owns 618,321 shares of the financial services provider’s stock valued at $7,081,000 after acquiring an additional 553,221 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of NMI Holdings by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,052 shares of the financial services provider’s stock valued at $27,996,000 after acquiring an additional 446,918 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.
About NMI Holdings
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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