NMI (NASDAQ:NMIH) Posts Quarterly Earnings Results, Meets Expectations

NMI (NASDAQ:NMIH) issued its quarterly earnings results on Tuesday. The financial services provider reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21, Zacks reports. The company had revenue of $151.32 million during the quarter, compared to analysts’ expectations of $177.01 million. NMI had a return on equity of 16.42% and a net margin of 55.02%.The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.15 earnings per share.

NMI Stock Down 1.7%

Shares of NASDAQ:NMIH traded down $0.63 during mid-day trading on Thursday, hitting $36.21. 299,690 shares of the company traded hands, compared to its average volume of 520,458. The stock has a market cap of $2.81 billion, a P/E ratio of 7.58, a P/E/G ratio of 1.08 and a beta of 0.63. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. NMI has a 12-month low of $31.90 and a 12-month high of $43.20. The stock has a 50-day moving average price of $37.78 and a two-hundred day moving average price of $38.41.

Insider Activity

In related news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the transaction, the director owned 78,960 shares of the company’s stock, valued at $3,103,917.60. The trade was a 20.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Daiwa Securities Group Inc. lifted its holdings in NMI by 5.6% during the second quarter. Daiwa Securities Group Inc. now owns 20,900 shares of the financial services provider’s stock worth $882,000 after acquiring an additional 1,100 shares during the period. Quantinno Capital Management LP raised its stake in shares of NMI by 39.6% in the second quarter. Quantinno Capital Management LP now owns 11,706 shares of the financial services provider’s stock valued at $494,000 after buying an additional 3,318 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of NMI by 151.5% in the second quarter. Tower Research Capital LLC TRC now owns 11,261 shares of the financial services provider’s stock valued at $475,000 after buying an additional 6,784 shares during the period. EP Wealth Advisors LLC raised its stake in shares of NMI by 4.3% in the second quarter. EP Wealth Advisors LLC now owns 9,836 shares of the financial services provider’s stock valued at $415,000 after buying an additional 408 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of NMI by 32.8% in the second quarter. NewEdge Advisors LLC now owns 9,423 shares of the financial services provider’s stock valued at $398,000 after buying an additional 2,328 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen cut NMI from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. Barclays reaffirmed a “cautious” rating on shares of NMI in a research note on Monday, October 6th. Finally, JPMorgan Chase & Co. decreased their target price on NMI from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.17.

About NMI

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; 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.