Keefe, Bruyette & Woods lowered shares of NMI (NASDAQ:NMIH) from an outperform rating to a market perform rating in a research report sent to investors on Monday, August 6th, MarketBeat.com reports. They currently have $23.50 target price on the financial services provider’s stock.
Several other research analysts have also recently commented on the company. Compass Point reissued a buy rating and set a $24.00 target price on shares of NMI in a research note on Thursday, August 2nd. Susquehanna Bancshares boosted their target price on NMI from $21.00 to $24.00 and gave the stock a buy rating in a research note on Thursday, August 2nd. Royal Bank of Canada reaffirmed a buy rating and set a $24.00 price target on shares of NMI in a report on Thursday, August 2nd. BidaskClub raised NMI from a buy rating to a strong-buy rating in a report on Tuesday, July 31st. Finally, Zacks Investment Research raised NMI from a hold rating to a strong-buy rating and set a $19.00 target price for the company in a report on Tuesday, July 17th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $22.28.
NMIH traded up $0.25 on Monday, hitting $21.60. 303,600 shares of the company were exchanged, compared to its average volume of 585,208. NMI has a twelve month low of $10.10 and a twelve month high of $22.80. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 37.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27.
In related news, EVP William J. Leatherberry sold 25,000 shares of the business’s 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 owns 172,374 shares in the company, valued at approximately $3,837,045.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William J. Leatherberry sold 15,800 shares of the business’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $17.07, for a total value of $269,706.00. Following the completion of the transaction, the executive vice president now owns 147,524 shares in the company, valued at approximately $2,518,234.68. The disclosure for this sale can be found here. Insiders sold a total of 242,310 shares of company stock valued at $5,067,165 over the last three months. Company insiders own 5.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Glen Harbor Capital Management LLC increased its position 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 purchasing an additional 2,618 shares during the period. Quantbot Technologies LP acquired a new position in NMI during the 1st quarter worth approximately $126,000. Itau Unibanco Holding S.A. acquired a new position in NMI during the 2nd quarter worth approximately $129,000. Kessler Investment Group LLC acquired a new position in NMI during the 2nd quarter worth approximately $133,000. Finally, Nisa Investment Advisors LLC acquired a new position in NMI during the 2nd quarter worth approximately $144,000. Hedge funds and other institutional investors own 90.51% of the company’s stock.
NMI Company Profile
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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