NMI Holdings Inc. (NMIH) Stock Rating Upgraded by Zacks Investment Research
NMI Holdings Inc. (NASDAQ:NMIH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday. The brokerage currently has a $10.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.11% from the company’s previous close.
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. “
A number of other equities analysts have also recently commented on NMIH. BTIG Research reiterated a “buy” rating and issued a $10.00 target price on shares of NMI Holdings in a report on Tuesday, October 25th. FBR & Co reiterated an “outperform” rating on shares of NMI Holdings in a report on Friday, September 23rd. TheStreet upgraded NMI Holdings from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Finally, Keefe, Bruyette & Woods set a $8.50 target price on NMI Holdings and gave the stock a “buy” rating in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. NMI Holdings currently has an average rating of “Buy” and a consensus price target of $9.80.
Shares of NMI Holdings (NASDAQ:NMIH) opened at 9.00 on Friday. NMI Holdings has a 52 week low of $4.19 and a 52 week high of $9.05. The company has a 50-day moving average price of $7.94 and a 200 day moving average price of $6.84. The stock’s market capitalization is $532.24 million.
In other NMI Holdings news, Director James Ozanne purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average cost of $7.92 per share, with a total value of $39,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 16.90% of the company’s stock.
Large investors have recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in shares of NMI Holdings during the third quarter worth about $107,000. Wells Fargo & Company MN raised its stake in shares of NMI Holdings by 28.0% in the third quarter. Wells Fargo & Company MN now owns 17,371 shares of the company’s stock worth $132,000 after buying an additional 3,799 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of NMI Holdings during the second quarter worth about $100,000. Dynamic Technology Lab Private Ltd raised its stake in shares of NMI Holdings by 72.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 21,900 shares of the company’s stock worth $120,000 after buying an additional 9,209 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of NMI Holdings during the second quarter worth about $122,000. 80.40% of the stock is owned by hedge funds and other institutional investors.
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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