NMI (NASDAQ:NMIH) Stock Rated Buy in New Coverage at BTIG Research

BTIG Research started coverage on shares of NMI (NASDAQ:NMIH) in a report published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $54.00 price objective on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $47.00 price objective on shares of NMI in a report on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of NMI in a report on Wednesday, September 9th. JPMorgan Chase & Co. lifted their target price on NMI from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Truist Financial boosted their price target on shares of NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $53.00 price target on shares of NMI in a research report on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, NMI presently has an average rating of “Moderate Buy” and a consensus target price of $49.14.

NMI Stock Performance

NASDAQ:NMIH opened at $41.57 on Tuesday. NMI has a fifty-two week low of $34.84 and a fifty-two week high of $46.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50 day moving average price of $44.06 and a 200 day moving average price of $40.45. The stock has a market capitalization of $3.13 billion, a P/E ratio of 8.18, a PEG ratio of 1.14 and a beta of 0.53.

NMI (NASDAQ:NMIH) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. NMI had a return on equity of 15.13% and a net margin of 54.10%.The company had revenue of $187.89 million for the quarter, compared to analyst estimates of $156.26 million. During the same quarter in the previous year, the company earned $1.22 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that NMI will post 5.25 EPS for the current year.

Insider Buying and Selling at NMI

In other NMI news, CEO Adam Pollitzer sold 172,706 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $44.85, for a total value of $7,745,864.10. Following the sale, the chief executive officer directly owned 270,267 shares of the company’s stock, valued at approximately $12,121,474.95. This represents a 38.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert Smith sold 12,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $44.65, for a total transaction of $535,800.00. Following the completion of the sale, the executive vice president owned 96,381 shares in the company, valued at $4,303,411.65. The trade was a 11.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 196,368 shares of company stock valued at $8,800,740. Insiders own 2.44% of the company’s stock.

Institutional Trading of NMI

Hedge funds and other institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd lifted its holdings in NMI by 96.0% during the 2nd quarter. WINTON GROUP Ltd now owns 24,747 shares of the financial services provider’s stock worth $1,017,000 after buying an additional 12,120 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of NMI during the 2nd quarter worth about $122,000. NewEdge Advisors LLC raised its position in shares of NMI by 7.5% during the 2nd quarter. NewEdge Advisors LLC now owns 18,050 shares of the financial services provider’s stock worth $742,000 after acquiring an additional 1,252 shares in the last quarter. Allworth Financial LP lifted its stake in NMI by 44.3% during the second quarter. Allworth Financial LP now owns 2,184 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 670 shares during the last quarter. Finally, Nykredit A S purchased a new stake in NMI during the second quarter worth approximately $31,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

NMI Company Profile

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a provider of private mortgage insurance in the United States. Through its insurance subsidiaries, the company offers mortgage insurance to lenders and other mortgage market participants, helping protect against losses when borrowers default on residential home loans.

National MI’s products support conventional residential mortgages, including borrower-paid and lender-paid mortgage insurance arrangements. Its coverage is generally used when a homebuyer makes a down payment of less than 20%, enabling lenders to extend mortgage credit while reducing their exposure to potential default-related losses.