NMI (NASDAQ:NMIH) Downgraded to “C+” at TheStreet

NMI (NASDAQ:NMIH – Get Rating) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Tuesday, TheStreetRatingsTable reports.

A number of other brokerages have also issued reports on NMIH. Barclays boosted their target price on shares of NMI from $35.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, January 10th. StockNews.com began coverage on shares of NMI in a research note on Thursday, March 31st. They set a “hold” rating for the company. BTIG Research lowered their target price 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 upped their price objective for the stock from $26.50 to $27.50 in a research note on Thursday, February 17th. Finally, Citigroup lowered their price objective on shares of NMI from $32.00 to $28.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, NMI has an average rating of “Hold” and an average price target of $29.79.

NMIH stock opened at $17.74 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. NMI has a twelve month low of $16.69 and a twelve month high of $27.25. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 6.34 and a beta of 1.51. The firm’s fifty day simple moving average is $19.86 and its two-hundred day simple moving average is $21.82.

NMI (NASDAQ:NMIH – Get Rating) last issued its earnings results on Wednesday, May 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $127.44 million during the quarter, compared to analyst estimates of $127.70 million. NMI had a net margin of 49.45% and a return on equity of 16.52%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. As a group, equities research analysts expect that NMI will post 3.2 EPS for the current year.

In other NMI news, COO Patrick L. Mathis sold 68,493 shares of the stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $26.08, for a total transaction of $1,786,297.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Yousif Capital Management LLC acquired a new position in shares of NMI during the fourth quarter valued at about $1,715,000. Epoch Investment Partners Inc. acquired a new position in shares of NMI during the third quarter valued at about $13,253,000. Tealwood Asset Management Inc. acquired a new position in shares of NMI during the third quarter valued at about $1,218,000. Swiss National Bank increased its holdings in shares of NMI by 0.6% during the third quarter. Swiss National Bank now owns 179,674 shares of the financial services provider’s stock valued at $4,062,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of NMI by 80.1% during the third quarter. Barclays PLC now owns 102,644 shares of the financial services provider’s stock valued at $2,321,000 after acquiring an additional 45,649 shares in the last quarter. 95.68% of the stock is owned by institutional investors and hedge funds.

NMI Company Profile (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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