NMI Holdings Inc (NASDAQ:NMIH) Earns Buy Rating from BTIG Research

NMI Holdings Inc (NASDAQ:NMIH)‘s stock had its “buy” rating reissued by BTIG Research in a report issued on Sunday, November 5th. They currently have a $17.00 target price on the financial services provider’s stock. BTIG Research’s target price indicates a potential upside of 3.03% from the stock’s current price.

The analysts wrote, “3Q17 EPS Beat as Various Metrics Reach Record Levels We are reiterating our Buy recommendation on NMI Holdings (NMIH) while raising our price target to $17 (from $13) based on 11x the company’s FY19E adjusted earnings per share of $1.55. The 3Q17 adjusted EPS beat that NMIH released after the market close yesterday demonstrated that the company’s operating momentum remains intact.   While shares of NMIH have rallied by 35.2% YTD, we believe the stock remains reasonably valued at 10.1x FY19E consensus estimates and offers an attractive entry point for investors seeking a way to play a U.S.””

Other analysts have also issued reports about the stock. BidaskClub raised shares of NMI Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods raised shares of NMI Holdings from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 5th. Zacks Investment Research raised shares of NMI Holdings from a “hold” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a research report on Saturday, October 14th. Compass Point restated a “neutral” rating and issued a $13.00 price objective on shares of NMI Holdings in a research note on Saturday, October 14th. Finally, Deutsche Bank AG downgraded shares of NMI Holdings from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $15.93.

NMI Holdings (NMIH) traded up $0.05 during mid-day trading on Friday, hitting $16.50. 205,796 shares of the company were exchanged, compared to its average volume of 547,230. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.24 and a current ratio of 0.24. NMI Holdings has a 1-year low of $8.55 and a 1-year high of $17.08. The firm has a market cap of $987.55, a PE ratio of 28.86 and a beta of 0.75.

NMI Holdings (NASDAQ:NMIH) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.06. NMI Holdings had a net margin of 51.80% and a return on equity of 6.95%. The company had revenue of $48.95 million during the quarter, compared to analyst estimates of $45.79 million. During the same quarter last year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 37.8% on a year-over-year basis. analysts expect that NMI Holdings will post 0.56 earnings per share for the current fiscal year.

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In related news, EVP William J. Leatherberry bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average cost of $10.65 per share, for a total transaction of $53,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Julie Norberg sold 16,600 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $16.73, for a total value of $277,718.00. Following the transaction, the vice president now owns 32,305 shares of the company’s stock, valued at $540,462.65. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NMIH. Capital Research Global Investors grew its position in shares of NMI Holdings by 72.5% in the 2nd quarter. Capital Research Global Investors now owns 3,481,202 shares of the financial services provider’s stock valued at $39,860,000 after purchasing an additional 1,462,624 shares during the period. Wells Fargo & Company MN grew its position in shares of NMI Holdings by 849.8% in the 2nd quarter. Wells Fargo & Company MN now owns 618,321 shares of the financial services provider’s stock valued at $7,081,000 after purchasing an additional 553,221 shares during the period. Dimensional Fund Advisors LP grew its position in shares of NMI Holdings by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,052 shares of the financial services provider’s stock valued at $27,996,000 after purchasing an additional 446,918 shares during the period. Alliancebernstein L.P. grew its position in shares of NMI Holdings by 531.7% in the 2nd quarter. Alliancebernstein L.P. now owns 289,320 shares of the financial services provider’s stock valued at $3,313,000 after purchasing an additional 243,520 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of NMI Holdings by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,569,591 shares of the financial services provider’s stock valued at $29,421,000 after purchasing an additional 239,387 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

About NMI Holdings

NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).

Analyst Recommendations for NMI Holdings (NASDAQ:NMIH)

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