BTIG Research Begins Coverage on NMI (NASDAQ:NMIH)

Research analysts at BTIG Research assumed coverage on shares of NMI (NASDAQ:NMIH) in a report released on Tuesday. The firm set a “buy” rating and a $54.00 price target on the financial services provider’s stock. BTIG Research’s price objective suggests a potential upside of 25.35% from the stock’s previous close.

A number of other equities research analysts have also recently commented on NMIH. Royal Bank Of Canada reiterated an “outperform” rating and issued a $53.00 price target on shares of NMI in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $47.00 price target on shares of NMI in a research note on Monday, August 3rd. JPMorgan Chase & Co. boosted their price objective on shares of NMI from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Truist Financial increased their price objective on NMI from $49.00 to $51.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of NMI in a research report on Wednesday, September 9th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, NMI currently has an average rating of “Moderate Buy” and an average target price of $49.14.

NMI Stock Up 1.3%

NMIH stock traded up $0.57 during trading on Tuesday, reaching $43.08. 23,734 shares of the company traded hands, compared to its average volume of 510,937. NMI has a 12 month low of $34.84 and a 12 month high of $46.74. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 8.45, a price-to-earnings-growth ratio of 1.15 and a beta of 0.53. 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 business has a 50 day simple moving average of $44.05 and a 200 day simple moving average of $40.38.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data 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. The firm had revenue of $187.89 million for the quarter, compared to the consensus estimate of $156.26 million. NMI had a net margin of 54.10% and a return on equity of 15.13%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 EPS. On average, equities research analysts anticipate that NMI will post 5.25 earnings per share for the current fiscal year.

Insider Transactions at NMI

In other NMI news, EVP Aurora Swithenbank sold 11,662 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $44.51, for a total value of $519,075.62. Following the completion of the transaction, the executive vice president directly owned 50,734 shares of the company’s stock, valued at approximately $2,258,170.34. The trade was a 18.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adam Pollitzer sold 172,706 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $44.85, for a total value of $7,745,864.10. Following the completion of the sale, the chief executive officer owned 270,267 shares in the company, valued at approximately $12,121,474.95. This represents a 38.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 196,368 shares of company stock worth $8,800,740 over the last quarter. 2.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NMI

Several large investors have recently made changes to their positions in NMIH. River Road Asset Management LLC purchased a new position in NMI during the fourth quarter worth approximately $15,104,000. Sei Investments Co. increased its position in shares of NMI by 46.9% in the first quarter. Sei Investments Co. now owns 81,673 shares of the financial services provider’s stock valued at $3,064,000 after buying an additional 26,059 shares in the last quarter. Bank of America Corp DE increased its position in shares of NMI by 22.7% in the first quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider’s stock valued at $48,937,000 after buying an additional 241,724 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of NMI by 16.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 338,434 shares of the financial services provider’s stock worth $12,695,000 after buying an additional 47,891 shares during the period. Finally, Winmill & CO. Inc. purchased a new position in shares of NMI during the 2nd quarter valued at approximately $16,276,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

About NMI

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a provider of private mortgage insurance in the United States. Through its insurance subsidiaries, the company offers mortgage insurance to lenders and other mortgage market participants, helping protect against losses when borrowers default on residential home loans.

National MI’s products support conventional residential mortgages, including borrower-paid and lender-paid mortgage insurance arrangements. Its coverage is generally used when a homebuyer makes a down payment of less than 20%, enabling lenders to extend mortgage credit while reducing their exposure to potential default-related losses.