NMI (NASDAQ:NMIH) Issues Earnings Results

NMI (NASDAQ:NMIH) released its earnings results on Tuesday. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.21, Zacks reports. The company had revenue of $151.32 million for the quarter, compared to analyst estimates of $177.01 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.15 EPS.

NMI Stock Down 2.4%

NASDAQ:NMIH traded down $0.91 during midday trading on Wednesday, hitting $36.61. 214,051 shares of the company were exchanged, compared to its average volume of 518,509. The company has a fifty day simple moving average of $37.84 and a 200 day simple moving average of $38.43. NMI has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.84 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 1.06 and a beta of 0.63.

Insider Buying and Selling

In related news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction on Monday, September 15th. The shares were sold at an average price of $39.31, for a total transaction of $783,291.06. Following the sale, the director directly owned 78,960 shares in the company, valued at $3,103,917.60. This trade represents a 20.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NMI

Several hedge funds and other institutional investors have recently bought and sold shares of NMIH. Qube Research & Technologies Ltd increased its stake in NMI by 10.8% in the second quarter. Qube Research & Technologies Ltd now owns 758,481 shares of the financial services provider’s stock valued at $32,000,000 after purchasing an additional 73,695 shares during the period. Public Sector Pension Investment Board increased its stake in NMI by 4.1% in the second quarter. Public Sector Pension Investment Board now owns 567,106 shares of the financial services provider’s stock valued at $23,926,000 after purchasing an additional 22,383 shares during the period. Bank of America Corp DE increased its stake in NMI by 32.8% in the second quarter. Bank of America Corp DE now owns 519,413 shares of the financial services provider’s stock valued at $21,914,000 after purchasing an additional 128,432 shares during the period. BNP Paribas Financial Markets increased its stake in NMI by 184.3% in the second quarter. BNP Paribas Financial Markets now owns 427,397 shares of the financial services provider’s stock valued at $18,032,000 after purchasing an additional 277,065 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in NMI by 62.6% in the second quarter. Cubist Systematic Strategies LLC now owns 424,127 shares of the financial services provider’s stock valued at $17,894,000 after purchasing an additional 163,364 shares during the period. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays reiterated a “cautious” rating on shares of NMI in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of NMI in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Finally, Wall Street Zen lowered shares of NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, NMI currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

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.