NMI (NASDAQ:NMIH) was upgraded by research analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat reports. The brokerage currently has a $24.00 target price on the financial services provider’s stock, up from their previous target price of $17.00. Deutsche Bank’s price objective would suggest a potential upside of 32.23% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. B. Riley reiterated a “buy” rating on shares of NMI in a report on Monday, November 6th. BidaskClub lowered shares of NMI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 30th. Zacks Investment Research lowered shares of NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Compass Point reissued a “neutral” rating and set a $13.00 price target on shares of NMI in a research report on Saturday, October 14th. Finally, BTIG Research reissued a “buy” rating and set a $21.00 price target (up from $17.00) on shares of NMI in a research report on Wednesday, December 20th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. NMI currently has an average rating of “Buy” and a consensus target price of $18.36.
Shares of NMI (NASDAQ:NMIH) traded down $0.10 during midday trading on Monday, hitting $18.15. 763,500 shares of the stock were exchanged, compared to its average volume of 621,783. The firm has a market capitalization of $1,090.00, a PE ratio of 12.78 and a beta of 0.84. NMI has a 52-week low of $10.07 and a 52-week high of $18.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.24 and a quick ratio of 0.24.
In related news, VP Julie Norberg sold 16,600 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $16.73, for a total transaction of $277,718.00. Following the transaction, the vice president now directly owns 32,305 shares of the company’s stock, valued at $540,462.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Claudia J. Merkle sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $17.80, for a total transaction of $267,000.00. The disclosure for this sale can be found here. Insiders have sold 41,600 shares of company stock worth $714,618 over the last three months. 5.40% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. bought a new stake in NMI in the third quarter worth about $113,000. Citadel Advisors LLC bought a new stake in NMI in the third quarter worth about $141,000. SG Americas Securities LLC bought a new stake in NMI in the third quarter worth about $156,000. Legal & General Group Plc raised its position in NMI by 8.8% in the second quarter. Legal & General Group Plc now owns 13,003 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 1,047 shares during the period. Finally, Algert Global LLC bought a new stake in NMI in the third quarter worth about $179,000. 83.57% of the stock is currently owned by institutional investors and hedge funds.
NMI Company Profile
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).
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