NMI (NASDAQ:NMIH) Shares Break Above 50 Day Moving Average – Time to Sell?

NMI Holdings Inc (NASDAQ:NMIH) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $42.32 and traded as high as $43.29. NMI shares last traded at $43.18, with a volume of 431,272 shares.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings upgraded NMI from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, October 19th. Royal Bank Of Canada reiterated an “outperform” rating and set a $53.00 price target on shares of NMI in a research report on Tuesday, August 4th. 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. Truist Financial raised their price target on NMI from $49.00 to $51.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, BTIG Research started coverage on shares of NMI in a research note on Tuesday, September 22nd. They set a “buy” rating and a $54.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.88.

NMI Trading Down 1.2%

The firm has a market capitalization of $3.21 billion, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a 50 day moving average price of $42.26 and a two-hundred day moving average price of $40.23.

NMI (NASDAQ:NMIH) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. NMI had a return on equity of 15.13% and a net margin of 54.10%. The company had revenue of $187.89 million for the quarter, compared to analyst estimates of $156.26 million. During the same period in the previous year, the firm earned $1.22 earnings per share. NMI’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that NMI Holdings Inc will post 5.26 EPS for the current fiscal year.

Insider Buying and Selling at NMI

In other news, CEO Adam Pollitzer sold 172,706 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 270,267 shares in the company, valued at $12,121,474.95. The trade was a 38.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aurora Swithenbank sold 11,662 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $44.51, for a total transaction of $519,075.62. Following the completion of the sale, the executive vice president owned 50,734 shares of the company’s stock, valued at approximately $2,258,170.34. This trade represents a 18.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 196,368 shares of company stock valued at $8,800,740. 2.44% of the stock is currently owned by corporate insiders.

Institutional Trading of NMI

Several large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in NMI by 34.0% in the first quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 272 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in NMI by 35.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider’s stock worth $47,000 after buying an additional 301 shares during the last quarter. GAMMA Investing LLC grew its position in shares of NMI by 11.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,989 shares of the financial services provider’s stock worth $123,000 after buying an additional 310 shares during the period. Pacer Advisors Inc. grew its position in shares of NMI by 58.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider’s stock worth $38,000 after buying an additional 372 shares during the period. Finally, Inspire Investing LLC increased its stake in shares of NMI by 2.6% in the 3rd quarter. Inspire Investing LLC now owns 16,862 shares of the financial services provider’s stock valued at $629,000 after acquiring an additional 425 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

About NMI

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.