NMI Holdings Inc. (NASDAQ:NMIH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.
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 research analysts have also recently issued reports on NMIH. BTIG Research reissued a “buy” rating and set a $10.00 price target on shares of NMI Holdings in a report on Tuesday, August 2nd. Keefe, Bruyette & Woods set a $8.50 target price on shares of NMI Holdings and gave the company a “buy” rating in a report on Wednesday, August 3rd. FBR & Co reaffirmed a “buy” rating and issued a $9.00 target price on shares of NMI Holdings in a report on Thursday, August 4th. Finally, TheStreet raised shares of NMI Holdings from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $9.40.
Shares of NMI Holdings (NASDAQ:NMIH) opened at 7.60 on Wednesday. The stock’s 50 day moving average is $7.73 and its 200 day moving average is $6.28. NMI Holdings has a 52-week low of $4.19 and a 52-week high of $8.23. The stock’s market cap is $449.37 million.
NMI Holdings (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. The firm earned $29.50 million during the quarter, compared to analysts’ expectations of $24.79 million. NMI Holdings had a negative net margin of 13.51% and a negative return on equity of 2.80%. On average, equities analysts expect that NMI Holdings will post $0.15 earnings per share for the current fiscal year.
In other NMI Holdings news, Director James Ozanne purchased 5,000 shares of the stock in a transaction dated Friday, August 26th. The shares were acquired at an average cost of $7.92 per share, for a total transaction of $39,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.90% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Oxford Asset Management acquired a new stake in NMI Holdings during the second quarter valued at approximately $674,000. Airain ltd acquired a new stake in NMI Holdings during the second quarter valued at approximately $210,000. CI Investments Inc. raised its stake in NMI Holdings by 1.0% in the second quarter. CI Investments Inc. now owns 3,186,990 shares of the company’s stock valued at $17,465,000 after buying an additional 31,641 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in NMI Holdings during the second quarter valued at approximately $704,000. Finally, Mutual of America Capital Management LLC acquired a new stake in NMI Holdings during the second quarter valued at approximately $2,193,000. Institutional investors and hedge funds own 80.38% of the company’s stock.
NMI Holdings Company Profile
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance (MI) through its insurance subsidiaries. The Company’s insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is an MI provider on loans purchased by Fannie Mae and Freddie Mac (collectively the Government-sponsored enterprises(GSEs)).
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