Zacks Investment Research Upgrades NMI (NMIH) to Strong-Buy

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Zacks Investment Research upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a strong-buy rating in a research note released on Friday morning. The firm currently has $24.00 price objective on the financial services provider’s stock.

According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “

Other equities analysts have also recently issued reports about the company. Compass Point reiterated a buy rating and set a $24.00 price target on shares of NMI in a report on Thursday, August 2nd. Susquehanna Bancshares increased their price target on NMI from $21.00 to $24.00 and gave the stock a buy rating in a report on Thursday, August 2nd. Royal Bank of Canada reiterated a buy rating and set a $24.00 price target on shares of NMI in a report on Thursday, August 2nd. BidaskClub cut NMI from a strong-buy rating to a buy rating in a report on Thursday, August 30th. Finally, B. Riley increased their price target on NMI from $20.00 to $26.00 and gave the stock a buy rating in a report on Tuesday, August 7th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $24.89.

NASDAQ NMIH opened at $20.87 on Friday. The firm has a market cap of $1.35 billion, a PE ratio of 36.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. NMI has a twelve month low of $13.35 and a twelve month high of $24.50.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, October 30th. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $71.76 million during the quarter. NMI had a return on equity of 15.86% and a net margin of 27.89%. As a group, equities analysts expect that NMI will post 1.52 earnings per share for the current year.

In related news, EVP William J. Leatherberry sold 45,000 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $21.80, for a total transaction of $981,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William J. Leatherberry sold 25,000 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $22.26, for a total value of $556,500.00. Following the transaction, the executive vice president now directly owns 172,374 shares in the company, valued at approximately $3,837,045.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,720 shares of company stock worth $7,641,161. 5.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of NMIH. Glen Harbor Capital Management LLC lifted its stake in NMI by 70.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 6,358 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 2,618 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in NMI during the 2nd quarter worth about $129,000. Kessler Investment Group LLC acquired a new stake in NMI in the 2nd quarter valued at about $133,000. Nisa Investment Advisors LLC acquired a new stake in NMI in the 2nd quarter valued at about $144,000. Finally, Meadow Creek Investment Management LLC raised its position in NMI by 70.0% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 9,826 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 4,046 shares in the last quarter. 90.44% of the stock is currently owned by hedge funds and other institutional investors.

About NMI

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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