NMI (NMIH) Upgraded by Zacks Investment Research to “Strong-Buy”

Zacks Investment Research upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday. They currently have $20.00 price objective on the financial services provider’s stock.

According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “

Several other equities analysts have also recently commented on NMIH. ValuEngine cut NMI from a buy rating to a hold rating in a research report on Monday, October 2nd. Compass Point restated a neutral rating and set a $13.00 target price on shares of NMI in a research report on Saturday, October 14th. Singular Research initiated coverage on NMI in a research report on Monday, October 16th. They set a buy rating and a $16.00 target price for the company. Deutsche Bank set a $16.00 target price on NMI and gave the stock a buy rating in a research report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods restated a buy rating and set a $19.50 target price on shares of NMI in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $18.36.

NMI (NASDAQ NMIH) traded up $0.45 during trading on Tuesday, reaching $18.95. The company had a trading volume of 494,571 shares, compared to its average volume of 549,432. NMI has a twelve month low of $10.07 and a twelve month high of $19.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.24 and a current ratio of 0.24. The stock has a market capitalization of $1,140.00, a PE ratio of 13.35 and a beta of 0.84.

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

In other news, EVP Patrick L. Mathis sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $16.99, for a total value of $169,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Julie Norberg sold 16,600 shares of the company’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 completion of 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 sold a total of 41,600 shares of company stock valued at $714,618 over the last quarter. Company insiders own 5.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital Research Global Investors boosted its holdings in shares of NMI by 72.5% in the 2nd quarter. Capital Research Global Investors now owns 3,481,202 shares of the financial services provider’s stock worth $39,860,000 after purchasing an additional 1,462,624 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of NMI by 15.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,812,446 shares of the financial services provider’s stock valued at $34,875,000 after acquiring an additional 367,394 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of NMI 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 acquiring an additional 239,387 shares during the last quarter. FMR LLC lifted its stake in shares of NMI by 7.8% in the 2nd quarter. FMR LLC now owns 2,488,937 shares of the financial services provider’s stock valued at $28,499,000 after acquiring an additional 180,126 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of NMI by 2.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,024,900 shares of the financial services provider’s stock valued at $23,185,000 after acquiring an additional 44,182 shares during the last quarter. Hedge funds and other institutional investors own 83.57% of the company’s stock.

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About NMI

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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