NMI’s (NMIH) Buy Rating Reiterated at Compass Point

NMI (NASDAQ:NMIH)‘s stock had its “buy” rating reissued by analysts at Compass Point in a research note issued on Friday, MarketBeat reports. They presently have a $37.00 price target on the financial services provider’s stock, up from their previous price target of $34.00. Compass Point’s price objective points to a potential downside of 2.53% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. UBS Group decreased their target price on NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on shares of NMI from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their target price on shares of NMI from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Finally, Wall Street Zen raised shares of NMI from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.29.

NMI Stock Performance

NASDAQ NMIH opened at $37.96 on Friday. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 1.41 and a beta of 0.56. The stock has a 50-day moving average of $35.70 and a 200 day moving average of $36.63. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. NMI has a twelve month low of $31.60 and a twelve month high of $42.49.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.10 by $0.18. NMI had a net margin of 55.32% and a return on equity of 17.33%. The company had revenue of $173.25 million during the quarter, compared to analyst estimates of $169.04 million. During the same quarter in the previous year, the firm earned $1.08 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that NMI will post 4.62 EPS for the current fiscal year.

Insider Buying and Selling

In other NMI news, CEO Adam Pollitzer sold 57,166 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $36.54, for a total value of $2,088,845.64. Following the sale, the chief executive officer now owns 329,465 shares of the company’s stock, valued at $12,038,651.10. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Curry Montgomery sold 1,875 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total value of $71,343.75. Following the transaction, the director now directly owns 66,068 shares in the company, valued at approximately $2,513,887.40. The trade was a 2.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,152 shares of company stock worth $3,358,017. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On NMI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen LLC acquired a new position in NMI during the 1st quarter worth $44,886,000. Millennium Management LLC boosted its stake in shares of NMI by 209.9% in the 1st quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider’s stock valued at $51,658,000 after buying an additional 970,551 shares during the period. Assenagon Asset Management S.A. grew its position in shares of NMI by 70.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider’s stock worth $73,341,000 after buying an additional 844,037 shares in the last quarter. Norges Bank purchased a new stake in shares of NMI during the fourth quarter worth approximately $13,174,000. Finally, Raymond James Financial Inc. acquired a new stake in NMI in the fourth quarter valued at approximately $13,136,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.

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.