NMI (NMIH) Cut to “Hold” at ValuEngine

ValuEngine downgraded shares of NMI (NASDAQ:NMIH) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

Several other equities analysts have also recently weighed in on NMIH. B. Riley restated a buy rating on shares of NMI in a report on Monday, November 6th. BidaskClub raised NMI from a sell rating to a hold rating in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods raised NMI from a market perform rating to an outperform rating in a research note on Tuesday, September 5th. Zacks Investment Research raised NMI from a hold rating to a strong-buy rating and set a $15.00 price objective for the company in a research note on Saturday, October 14th. Finally, Compass Point reaffirmed a neutral rating and issued a $13.00 price objective on shares of NMI in a research note on Saturday, October 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. NMI presently has an average rating of Buy and an average price target of $15.93.

Shares of NMI (NMIH) traded up $0.05 during trading on Monday, hitting $17.35. The stock had a trading volume of 349,900 shares, compared to its average volume of 549,385. NMI has a 1 year low of $9.25 and a 1 year high of $17.95. The stock has a market cap of $1,060.00, a price-to-earnings ratio of 30.35 and a beta of 0.84. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.28.

NMI (NASDAQ:NMIH) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.06. NMI had a return on equity of 6.95% and a net margin of 51.80%. The business had revenue of $48.95 million during the quarter, compared to analyst estimates of $45.79 million. During the same quarter in the previous year, the firm earned $0.10 EPS. The company’s quarterly revenue was up 37.8% compared to the same quarter last year. equities analysts forecast that NMI will post 0.56 EPS for the current fiscal year.

In other news, COO Claudia J. Merkle sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $17.80, for a total value of $267,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick L. Mathis sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $16.99, for a total value of $169,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,600 shares of company stock valued at $714,618. 5.40% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Quantum Capital Management purchased a new stake in shares of NMI in the 3rd quarter valued at approximately $931,000. Renaissance Technologies LLC lifted its position in shares of NMI by 2.2% in the second quarter. Renaissance Technologies LLC now owns 2,024,900 shares of the financial services provider’s stock worth $23,185,000 after purchasing an additional 44,182 shares in the last quarter. American Century Companies Inc. lifted its position in shares of NMI by 2.5% in the second quarter. American Century Companies Inc. now owns 620,371 shares of the financial services provider’s stock worth $7,103,000 after purchasing an additional 15,107 shares in the last quarter. Wells Fargo & Company MN increased its holdings in NMI by 849.8% during the second quarter. Wells Fargo & Company MN now owns 618,321 shares of the financial services provider’s stock worth $7,081,000 after buying an additional 553,221 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of NMI by 72.5% in the second quarter. Capital Research Global Investors now owns 3,481,202 shares of the financial services provider’s stock valued at $39,860,000 after purchasing an additional 1,462,624 shares during the last quarter. Institutional investors and hedge funds own 83.57% of the company’s stock.

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About NMI

NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NMI (NASDAQ:NMIH)

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