NMI (NASDAQ:NMIH) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of NMI (NASDAQ:NMIHGet Rating) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other research firms have also recently commented on NMIH. Citigroup lowered their target price on shares of NMI from $32.00 to $28.00 in a research note on Tuesday, May 10th. BTIG Research reduced their price target on shares of NMI from $30.00 to $27.00 in a research note on Tuesday, April 12th. Keefe, Bruyette & Woods lowered shares of NMI from an outperform rating to a market perform rating and increased their target price for the company from $26.50 to $27.50 in a research note on Thursday, February 17th. Finally, TheStreet lowered shares of NMI from a b- rating to a c+ rating in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $29.79.

Shares of NMI stock opened at $18.40 on Wednesday. NMI has a one year low of $16.69 and a one year high of $27.25. The business’s 50 day simple moving average is $19.08 and its two-hundred day simple moving average is $21.37. The stock has a market capitalization of $1.58 billion, a P/E ratio of 6.57 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70.

NMI (NASDAQ:NMIHGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. NMI had a return on equity of 16.52% and a net margin of 49.45%. The firm had revenue of $127.44 million for the quarter, compared to analysts’ expectations of $127.70 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Sell-side analysts expect that NMI will post 3.2 earnings per share for the current fiscal year.

In other news, Director Michael Curry Montgomery sold 1,796 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $18.39, for a total transaction of $33,028.44. Following the transaction, the director now owns 40,424 shares in the company, valued at $743,397.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. bought a new stake in shares of NMI during the 3rd quarter valued at about $26,000. Point72 Hong Kong Ltd purchased a new stake in NMI during the first quarter valued at $33,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of NMI in the first quarter valued at $64,000. Federated Hermes Inc. grew its holdings in shares of NMI by 36.9% in the first quarter. Federated Hermes Inc. now owns 3,112 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 838 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of NMI by 136.6% during the first quarter. Captrust Financial Advisors now owns 3,175 shares of the financial services provider’s stock valued at $65,000 after buying an additional 1,833 shares during the last quarter. 95.68% of the stock is currently owned by institutional investors.

About NMI (Get Rating)

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.

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Analyst Recommendations for NMI (NASDAQ:NMIH)

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