NMI Holdings Inc. (NMIH) Receives Consensus Rating of “Buy” from Analysts
NMI Holdings Inc. (NASDAQ:NMIH) has been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the firm. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $9.75.
A number of research firms recently commented on NMIH. FBR & Co reiterated a “buy” rating and set a $9.00 price target on shares of NMI Holdings in a report on Thursday, August 4th. Zacks Investment Research upgraded NMI Holdings from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Wednesday, July 13th. Keefe, Bruyette & Woods set a $8.50 price objective on NMI Holdings and gave the stock a “buy” rating in a report on Wednesday, August 3rd. TheStreet upgraded NMI Holdings from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Finally, BTIG Research restated a “buy” rating and set a $10.00 price objective on shares of NMI Holdings in a report on Tuesday, August 2nd.
NMI Holdings (NASDAQ:NMIH) opened at 8.09 on Friday. The stock has a 50 day moving average price of $7.81 and a 200-day moving average price of $6.47. The firm’s market capitalization is $478.35 million. NMI Holdings has a one year low of $4.19 and a one year high of $8.20.
NMI Holdings (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. NMI Holdings had a negative return on equity of 2.80% and a negative net margin of 13.51%. The business earned $29.50 million during the quarter, compared to analysts’ expectations of $24.79 million. On average, equities analysts forecast that NMI Holdings will post $0.15 earnings per share for the current year.
In related news, Director James Ozanne purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was acquired at an average cost of $7.92 per share, for a total transaction of $39,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Private Management Group Inc. bought a new stake in shares of NMI Holdings during the second quarter valued at about $7,282,000. V3 Capital Management L.P. boosted its stake in shares of NMI Holdings by 47.1% in the first quarter. V3 Capital Management L.P. now owns 1,792,600 shares of the company’s stock valued at $9,053,000 after buying an additional 573,604 shares during the period. FMR LLC bought a new stake in shares of NMI Holdings during the second quarter valued at about $2,887,000. Systematic Financial Management LP bought a new stake in shares of NMI Holdings during the second quarter valued at about $2,635,000. Finally, Mutual of America Capital Management LLC bought a new stake in shares of NMI Holdings during the second quarter valued at about $2,193,000. Institutional investors and hedge funds own 80.37% of the company’s stock.
About NMI Holdings
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)).
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