NMI (NASDAQ:NMIH) Stock Price Up 5.6%

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.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. NMI had a net margin of 41.31% and a return on equity of 19.65%. The business had revenue of $91.18 million during the quarter, compared to analysts’ expectations of $85.11 million. Sell-side analysts anticipate that NMI Holdings Inc will post 2.4 earnings per share for the current year.

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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