Zacks Investment Research Upgrades NMI Holdings Inc. (NMIH) to “Strong-Buy”
NMI Holdings Inc. (NASDAQ:NMIH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday. The brokerage currently has a $10.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 14.29% 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 research analysts have also weighed in on the company. FBR & Co reiterated a “buy” rating on shares of NMI Holdings in a research report on Thursday, November 3rd. BTIG Research reiterated a “buy” rating and issued a $10.00 price objective on shares of NMI Holdings in a research report on Tuesday, October 25th. TheStreet upgraded NMI Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Finally, Keefe, Bruyette & Woods set a $8.50 price objective on NMI Holdings and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. NMI Holdings currently has an average rating of “Buy” and a consensus target price of $9.80.
Shares of NMI Holdings (NASDAQ:NMIH) opened at 8.75 on Thursday. NMI Holdings has a 52-week low of $4.19 and a 52-week high of $9.10. The stock’s market capitalization is $517.46 million. The company has a 50-day moving average price of $8.30 and a 200-day moving average price of $7.03.
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Several large investors have recently added to or reduced their stakes in NMIH. Fox Run Management L.L.C. purchased a new stake in NMI Holdings during the third quarter valued at $107,000. Wells Fargo & Company MN raised its stake in NMI Holdings by 28.0% in the third quarter. Wells Fargo & Company MN now owns 17,371 shares of the company’s stock valued at $132,000 after buying an additional 3,799 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in NMI Holdings during the second quarter valued at $100,000. Dynamic Technology Lab Private Ltd raised its stake 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. Finally, Panagora Asset Management Inc. purchased a new stake in NMI Holdings during the second quarter valued at $122,000. Institutional investors own 81.08% of the company’s stock.
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)).
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