NMI Holdings Inc. (NMIH) Upgraded to “Buy” by Zacks Investment Research
NMI Holdings Inc. (NASDAQ:NMIH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $9.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 10.70% from the stock’s current price.
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. “
Several other research firms have also commented on NMIH. FBR & Co restated an “outperform” rating on shares of NMI Holdings in a research report on Friday, September 23rd. TheStreet upgraded shares of NMI Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Keefe, Bruyette & Woods set a $8.50 price target on shares of NMI Holdings and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, BTIG Research restated a “buy” rating and set a $10.00 price target on shares of NMI Holdings in a research report on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. NMI Holdings has an average rating of “Buy” and a consensus target price of $9.60.
NMI Holdings (NASDAQ:NMIH) opened at 8.13 on Wednesday. The company’s 50-day moving average is $7.80 and its 200 day moving average is $6.37. The company’s market capitalization is $480.71 million. NMI Holdings has a one year low of $4.19 and a one year high of $8.23.
NMI Holdings (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The company had revenue of $29.50 million for the quarter, compared to analyst estimates of $24.79 million. NMI Holdings had a negative net margin of 13.51% and a negative return on equity of 2.80%. On average, equities analysts anticipate that NMI Holdings will post $0.15 earnings per share for the current year.
In other NMI Holdings news, Director James Ozanne purchased 5,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average cost of $7.92 per share, with a total value of $39,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 16.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Virginia Retirement Systems ET AL acquired a new position in NMI Holdings during the second quarter valued at $100,000. Dynamic Technology Lab Private Ltd increased its position in NMI Holdings by 72.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 21,900 shares of the company’s stock valued at $120,000 after buying an additional 9,209 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in NMI Holdings during the second quarter valued at $122,000. BlackRock Advisors LLC increased its position in NMI Holdings by 0.6% in the second quarter. BlackRock Advisors LLC now owns 26,243 shares of the company’s stock valued at $144,000 after buying an additional 155 shares in the last quarter. Finally, Spark Investment Management LLC acquired a new position in NMI Holdings during the first quarter valued at $155,000. 80.38% of the stock is currently owned by hedge funds and other institutional investors.
NMI Holdings Company Profile
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance (MI) through its insurance subsidiaries. The Company’s insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is an MI provider on loans purchased by Fannie Mae and Freddie Mac (collectively the Government-sponsored enterprises(GSEs)).
Receive News & Stock Ratings for NMI Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NMI Holdings Inc. and related stocks with our FREE daily email newsletter.