StockNews.com Downgrades NMI (NASDAQ:NMIH) to Hold

NMI (NASDAQ:NMIH) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

A number of other research firms also recently weighed in on NMIH. Barclays upped their price target on NMI from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on NMI from $34.00 to $40.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. UBS Group lowered NMI from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $37.00 to $39.00 in a report on Wednesday, May 22nd. Compass Point boosted their price objective on NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. boosted their price objective on NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.00.

NMI Stock Performance

Shares of NMIH stock traded down $1.42 during midday trading on Monday, hitting $36.27. 728,435 shares of the company were exchanged, compared to its average volume of 539,531. The firm has a market capitalization of $2.89 billion, a P/E ratio of 8.98, a PEG ratio of 0.94 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.67. The firm’s 50 day moving average price is $34.78 and its two-hundred day moving average price is $32.32. NMI has a 52 week low of $25.62 and a 52 week high of $42.01.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. NMI had a net margin of 56.40% and a return on equity of 18.29%. The firm had revenue of $162.12 million during the quarter, compared to the consensus estimate of $138.49 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities research analysts anticipate that NMI will post 4.33 earnings per share for the current year.

Insider Buying and Selling

In other news, insider William J. Leatherberry 44,725 shares of NMI stock in a transaction on Wednesday, July 31st. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Michael J. Embler sold 26,008 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total value of $1,023,414.80. Following the sale, the director now directly owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William J. Leatherberry 44,725 shares of NMI stock in a transaction dated Wednesday, July 31st. The disclosure for this trade can be found here. 2.70% of the stock is owned by insiders.

Institutional Investors Weigh In On NMI

Several hedge funds have recently modified their holdings of NMIH. DekaBank Deutsche Girozentrale lifted its position in NMI by 31.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 9,669 shares of the financial services provider’s stock valued at $288,000 after buying an additional 2,328 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in NMI by 2.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,949 shares of the financial services provider’s stock valued at $1,097,000 after buying an additional 1,015 shares in the last quarter. Cerity Partners LLC lifted its position in NMI by 5.9% during the fourth quarter. Cerity Partners LLC now owns 11,567 shares of the financial services provider’s stock valued at $343,000 after buying an additional 644 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in NMI during the fourth quarter valued at approximately $1,205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in NMI by 3.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,692 shares of the financial services provider’s stock valued at $555,000 after buying an additional 663 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

About NMI

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.