NMI (NASDAQ:NMIH) Downgraded to Buy at BidaskClub

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BidaskClub downgraded shares of NMI (NASDAQ:NMIH) from a strong-buy rating to a buy rating in a report published on Thursday, September 20th.

A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered NMI from a strong-buy rating to a hold rating in a research report on Tuesday, September 18th. Barclays assumed coverage on NMI in a research report on Monday, September 10th. They issued an overweight rating and a $28.00 price target on the stock. B. Riley upped their price target on NMI from $20.00 to $26.00 and gave the company a buy rating in a research report on Tuesday, August 7th. Keefe, Bruyette & Woods lowered NMI from an outperform rating to a market perform rating and set a $23.50 price target on the stock. in a research report on Monday, August 6th. Finally, Compass Point reiterated a buy rating and issued a $24.00 price target on shares of NMI in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. NMI currently has an average rating of Buy and a consensus price target of $22.85.

NMIH stock traded up $0.27 during midday trading on Thursday, reaching $19.67. 383,657 shares of the stock were exchanged, compared to its average volume of 569,461. The firm has a market capitalization of $1.49 billion, a P/E ratio of 34.51 and a beta of 1.11. NMI has a 52 week low of $12.70 and a 52 week high of $24.50. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.23.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $67.45 million for the quarter. NMI had a return on equity of 13.46% and a net margin of 25.23%. As a group, equities research analysts expect that NMI will post 1.55 EPS for the current fiscal year.

In related news, EVP William J. Leatherberry sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $21.80, for a total transaction of $981,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven Scheid sold 65,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $21.50, for a total value of $1,397,500.00. Following the transaction, the director now directly owns 72,691 shares in the company, valued at $1,562,856.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 438,220 shares of company stock worth $9,503,491. 5.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in NMI by 29.6% during the 3rd quarter. Bank of Montreal Can now owns 172,454 shares of the financial services provider’s stock worth $3,906,000 after buying an additional 39,356 shares during the period. State of Alaska Department of Revenue raised its stake in NMI by 14.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 21,877 shares of the financial services provider’s stock worth $495,000 after buying an additional 2,797 shares during the period. United Services Automobile Association raised its stake in NMI by 6.4% during the 2nd quarter. United Services Automobile Association now owns 51,633 shares of the financial services provider’s stock worth $842,000 after buying an additional 3,093 shares during the period. Northern Trust Corp raised its stake in NMI by 24.3% during the 2nd quarter. Northern Trust Corp now owns 798,371 shares of the financial services provider’s stock worth $13,013,000 after buying an additional 156,176 shares during the period. Finally, Millennium Management LLC raised its stake in NMI by 23.2% during the 2nd quarter. Millennium Management LLC now owns 517,112 shares of the financial services provider’s stock worth $8,429,000 after buying an additional 97,393 shares during the period. 90.50% of the stock is currently owned by institutional investors and hedge funds.

NMI Company Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.

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Analyst Recommendations for NMI (NASDAQ:NMIH)

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