NMI (NASDAQ:NMIH) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a buy rating in a research note released on Tuesday morning, BidAskClub reports.

Several other brokerages have also issued reports on NMIH. ValuEngine lowered shares of NMI from a buy rating to a hold rating in a report on Saturday, July 27th. Zelman & Associates upgraded shares of NMI from a hold rating to a buy rating in a report on Friday, August 2nd. B. Riley boosted their price objective on shares of NMI from $28.00 to $30.00 and gave the company a neutral rating in a report on Wednesday, June 26th. SunTrust Banks initiated coverage on shares of NMI in a report on Thursday, April 18th. They issued a buy rating and a $34.00 price objective on the stock. Finally, Compass Point restated a buy rating and issued a $33.00 price objective (up from $30.50) on shares of NMI in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. NMI presently has a consensus rating of Buy and an average target price of $30.63.

Shares of NMIH stock opened at $26.01 on Tuesday. The firm’s 50-day moving average price is $27.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $1.76 billion, a PE ratio of 15.67 and a beta of 1.29. NMI has a twelve month low of $15.62 and a twelve month high of $31.34.

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 the consensus estimate of $0.55 by $0.04. The firm had revenue of $91.18 million for the quarter, compared to analysts’ expectations of $85.11 million. NMI had a net margin of 41.31% and a return on equity of 19.65%. On average, analysts expect that NMI will post 2.4 EPS for the current fiscal year.

In other NMI news, Director Steven Scheid sold 4,923 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $26.24, for a total transaction of $129,179.52. Following the sale, the director now directly owns 58,545 shares in the company, valued at $1,536,220.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam Pollitzer sold 4,092 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $28.05, for a total transaction of $114,780.60. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. FMR LLC increased its stake in NMI by 44.8% during the first quarter. FMR LLC now owns 2,501,047 shares of the financial services provider’s stock worth $64,702,000 after purchasing an additional 773,781 shares during the period. Ellis Investment Partners LLC increased its stake in shares of NMI by 2,203.8% during the first quarter. Ellis Investment Partners LLC now owns 1,384,458 shares of the financial services provider’s stock worth $1,384,000 after buying an additional 1,324,364 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of NMI during the second quarter worth approximately $37,045,000. Boston Partners increased its stake in shares of NMI by 3.0% during the first quarter. Boston Partners now owns 813,142 shares of the financial services provider’s stock worth $21,036,000 after buying an additional 23,808 shares during the period. Finally, Norges Bank purchased a new stake in shares of NMI during the fourth quarter worth approximately $13,216,000. Institutional investors own 90.08% 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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Analyst Recommendations for NMI (NASDAQ:NMIH)

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