NMI (NASDAQ:NMIH) Hits New 52-Week High Following Analyst Upgrade

NMI Holdings, Inc. (NASDAQ:NMIH) hit a new 52-week high during mid-day trading on Tuesday after Compass Point raised their price target on the stock from $33.00 to $36.00. Compass Point currently has a buy rating on the stock. NMI traded as high as $33.81 and last traded at $33.60, with a volume of 13605 shares trading hands. The stock had previously closed at $33.41.

A number of other equities research analysts also recently commented on the stock. StockNews.com raised shares of NMI from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Keefe, Bruyette & Woods increased their target price on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, April 4th. Truist Financial boosted their price target on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their target price on shares of NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, NMI currently has an average rating of “Moderate Buy” and a consensus price target of $35.22.

Insiders Place Their Bets

In related news, EVP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the completion of the transaction, the executive vice president now owns 82,612 shares of the company’s stock, valued at approximately $2,576,668.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Bradley M. Shuster sold 12,836 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $30.53, for a total value of $391,883.08. Following the transaction, the chairman now owns 427,271 shares of the company’s stock, valued at $13,044,583.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total transaction of $93,570.00. Following the transaction, the executive vice president now owns 82,612 shares of the company’s stock, valued at approximately $2,576,668.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,158 shares of company stock worth $4,395,582. Company insiders own 2.40% of the company’s stock.

Institutional Trading of NMI

Several hedge funds have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC purchased a new position in shares of NMI during the first quarter valued at about $532,000. SG Americas Securities LLC boosted its stake in NMI by 101.1% during the first quarter. SG Americas Securities LLC now owns 10,003 shares of the financial services provider’s stock valued at $323,000 after buying an additional 5,028 shares during the last quarter. Empowered Funds LLC grew its holdings in NMI by 8.3% during the 1st quarter. Empowered Funds LLC now owns 95,903 shares of the financial services provider’s stock valued at $3,102,000 after buying an additional 7,364 shares in the last quarter. Quantbot Technologies LP increased its stake in NMI by 56.2% in the 1st quarter. Quantbot Technologies LP now owns 29,173 shares of the financial services provider’s stock worth $943,000 after acquiring an additional 10,491 shares during the last quarter. Finally, Leuthold Group LLC purchased a new stake in shares of NMI during the 1st quarter worth approximately $2,987,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Stock Up 0.7 %

The company has a fifty day moving average price of $30.74 and a 200-day moving average price of $29.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $2.70 billion, a PE ratio of 8.33, a PEG ratio of 1.17 and a beta of 1.06.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The business had revenue of $156.25 million during the quarter, compared to analyst estimates of $133.76 million. During the same quarter last year, the business earned $0.88 earnings per share. NMI’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, analysts expect that NMI Holdings, Inc. will post 4.18 earnings per share for the current year.

NMI Company Profile

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; 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.