NMI Holdings Inc (NASDAQ:NMIH) was down 10.6% on Monday . The stock traded as low as $17.25 and last traded at $18.05. Approximately 2,074,592 shares changed hands during trading, an increase of 208% from the average daily volume of 674,658 shares. The stock had previously closed at $20.20.
Several equities research analysts have recently weighed in on NMIH shares. Deutsche Bank raised NMI from a “hold” rating to a “buy” rating and raised their target price for the stock from $17.00 to $24.00 in a research report on Monday, January 8th. BTIG Research reissued a “buy” rating and set a $21.00 target price on shares of NMI in a research report on Sunday, February 18th. Susquehanna Bancshares started coverage on NMI in a research report on Tuesday, February 20th. They set a “positive” rating and a $26.00 target price on the stock. BidaskClub raised NMI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 18th. Finally, Zacks Investment Research raised NMI from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, January 9th. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. NMI currently has an average rating of “Buy” and a consensus target price of $21.86.
The stock has a market cap of $1,310.63, a PE ratio of 50.14 and a beta of 0.75. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.28.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. acquired a new position in NMI during the third quarter worth approximately $113,000. First Mercantile Trust Co. acquired a new position in shares of NMI in the fourth quarter valued at approximately $136,000. Citadel Advisors LLC acquired a new position in shares of NMI in the third quarter valued at approximately $141,000. SG Americas Securities LLC acquired a new position in shares of NMI in the third quarter valued at approximately $156,000. Finally, Algert Global LLC acquired a new position in shares of NMI in the third quarter valued at approximately $179,000. 84.31% of the stock is currently owned by institutional investors.
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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).
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