NMI Holdings Inc (NASDAQ:NMIH)’s share price rose 5.6% during mid-day trading on Monday . The stock traded as high as $29.69 and last traded at $29.38, approximately 723,700 shares traded hands during trading. An increase of 66% from the average daily volume of 435,655 shares. The stock had previously closed at $27.82.
NMIH has been the subject of several recent analyst reports. Credit Suisse Group initiated coverage on shares of NMI in a research report on Thursday, October 10th. They set a “neutral” rating and a $30.00 price objective for the company. Zacks Investment Research cut shares of NMI from a “hold” rating to a “sell” rating in a research report on Saturday. BidaskClub cut shares of NMI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 7th. BTIG Research set a $36.00 price objective on shares of NMI and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, B. Riley upgraded shares of NMI from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $34.00 in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $31.00.
The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 18.00 and a beta of 1.23. The business’s 50-day simple moving average is $27.46 and its two-hundred day simple moving average is $27.62. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.18.
In other NMI news, CFO Adam Pollitzer sold 4,821 shares of NMI stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $28.02, for a total transaction of $135,084.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley M. Shuster sold 38,125 shares of NMI stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $28.01, for a total transaction of $1,067,881.25. Following the sale, the insider now owns 604,420 shares of the company’s stock, valued at $16,929,804.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 149,443 shares of company stock valued at $4,180,041. Company insiders own 4.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of NMI in the second quarter valued at approximately $34,000. Centaurus Financial Inc. purchased a new position in shares of NMI in the first quarter valued at approximately $38,000. C M Bidwell & Associates Ltd. purchased a new position in shares of NMI in the second quarter valued at approximately $52,000. Point72 Hong Kong Ltd purchased a new position in shares of NMI in the second quarter valued at approximately $83,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of NMI in the second quarter valued at approximately $94,000. Institutional investors and hedge funds own 90.75% of the company’s stock.
About NMI (NASDAQ:NMIH)
NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.
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