NMI (NMIH) Downgraded by Keefe, Bruyette & Woods to Market Perform

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.

NMI (NASDAQ:NMIH) last released its earnings results on Wednesday, August 1st. The financial services provider reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.05. NMI had a return on equity of 13.46% and a net margin of 25.23%. The firm had revenue of $67.45 million during the quarter. research analysts anticipate that NMI will post 1.55 earnings per share for the current year.

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.

Read More: Relative Strength Index

Analyst Recommendations for NMI (NASDAQ:NMIH)

Receive News & Ratings for NMI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NMI and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply