NMI (NMIH) Upgraded at Deutsche Bank

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.

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

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.

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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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