NMI Holdings Inc. (NASDAQ:NMIH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $9.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 14.80% from the company’s previous close.
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. “
Other analysts have also issued research reports about the company. FBR & Co reaffirmed an “outperform” rating on shares of NMI Holdings in a research report on Friday, September 23rd. TheStreet raised NMI Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Keefe, Bruyette & Woods set a $8.50 price objective on NMI Holdings and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, BTIG Research reaffirmed a “buy” rating and set a $10.00 price objective on shares of NMI Holdings in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. NMI Holdings presently has an average rating of “Buy” and a consensus price target of $9.60.
NMI Holdings (NASDAQ:NMIH) opened at 7.84 on Wednesday. The stock’s market cap is $463.56 million. The company has a 50-day moving average price of $7.81 and a 200-day moving average price of $6.39. NMI Holdings has a 52 week low of $4.19 and a 52 week high of $8.20.
NMI Holdings (NASDAQ:NMIH) last announced its earnings results on Tuesday, August 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $29.50 million for the quarter, compared to analyst estimates of $24.79 million. NMI Holdings had a negative return on equity of 2.80% and a negative net margin of 13.51%. Equities research analysts anticipate that NMI Holdings will post $0.15 EPS for the current year.
In related news, Director James Ozanne acquired 5,000 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were acquired at an average price of $7.92 per share, with a total value of $39,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.90% of the company’s stock.
Several institutional investors have recently modified their holdings of NMIH. Fox Run Management L.L.C. purchased a new position in shares of NMI Holdings during the third quarter worth approximately $107,000. CI Investments Inc. increased its position in shares of NMI Holdings by 1.0% in the second quarter. CI Investments Inc. now owns 3,186,990 shares of the company’s stock worth $17,465,000 after buying an additional 31,641 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of NMI Holdings by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 180,556 shares of the company’s stock worth $990,000 after buying an additional 4,200 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of NMI Holdings during the second quarter worth approximately $998,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of NMI Holdings by 7.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 34,029 shares of the company’s stock worth $186,000 after buying an additional 2,460 shares during the last quarter. Hedge funds and other institutional investors 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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