Barclays Issues Pessimistic Forecast for NMI (NASDAQ:NMIH) Stock Price

NMI (NASDAQ:NMIH) had its price objective lowered by equities research analysts at Barclays from $43.00 to $42.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 10.37% from the stock’s previous close.

Several other research firms have also recently weighed in on NMIH. JPMorgan Chase & Co. cut their price objective on shares of NMI from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Bank of America lowered shares of NMI from a “buy” rating to a “neutral” rating and decreased their target price for the company from $51.00 to $44.00 in a report on Friday, October 30th. BTIG Research initiated coverage on shares of NMI in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $54.00 target price for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $53.00 price target on shares of NMI in a report on Tuesday, August 4th. Finally, Truist Financial increased their price target on shares of NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.75.

NMI Price Performance

NMI stock traded down $6.21 during mid-day trading on Friday, reaching $38.05. 252,794 shares of the company were exchanged, compared to its average volume of 569,927. The company has a fifty day simple moving average of $42.14 and a 200-day simple moving average of $40.36. NMI has a 12 month low of $35.12 and a 12 month high of $46.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $2.86 billion, a PE ratio of 7.51, a PEG ratio of 1.44 and a beta of 0.52.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Thursday, November 5th. The financial services provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The company had revenue of $187.55 million during the quarter, compared to the consensus estimate of $159.20 million. NMI had a return on equity of 15.13% and a net margin of 54.10%. During the same quarter in the previous year, the business posted $1.21 EPS. As a group, equities research analysts expect that NMI will post 5.26 earnings per share for the current fiscal year.

Insider Activity

In other NMI news, CEO Adam Pollitzer sold 172,706 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the completion of the transaction, the chief executive officer owned 270,267 shares of the company’s stock, valued at approximately $12,121,474.95. The trade was a 38.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aurora Swithenbank sold 11,662 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $44.51, for a total value of $519,075.62. Following the transaction, the executive vice president directly owned 50,734 shares of the company’s stock, valued at approximately $2,258,170.34. The trade was a 18.69% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On NMI

A number of hedge funds have recently made changes to their positions in NMIH. Nykredit A S acquired a new position in NMI during the 2nd quarter worth approximately $31,000. Public Employees Retirement System of Ohio bought a new position in NMI in the 2nd quarter valued at approximately $36,000. Pacer Advisors Inc. boosted its position in NMI by 58.7% in the first quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider’s stock valued at $38,000 after buying an additional 372 shares in the last quarter. Bessemer Group Inc. boosted its position in NMI by 34.0% in the first quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider’s stock valued at $40,000 after buying an additional 272 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in NMI by 35.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider’s stock valued at $47,000 after buying an additional 301 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting NMI

Here are the key news stories impacting NMI this week:

• Positive Sentiment: EPS was $1.23, up from $1.21 a year earlier, indicating slight year-over-year earnings growth. Zacks earnings report
• Neutral Sentiment: Revenue coverage is inconsistent: some reports characterize sales as below estimates, while figures in the supplied MarketBeat summary show $187.55 million against a $159.20 million consensus. Yahoo Finance report
• Negative Sentiment: Quarterly EPS of $1.23 fell short of analyst consensus estimates, reported as approximately $1.30–$1.32 per share. The earnings miss is the clearest near-term headwind for the stock. Zacks Q3 analysis

NMI Company Profile

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a U.S.-based provider of private mortgage insurance. Through its insurance subsidiaries, the company helps lenders manage the risk associated with residential mortgage loans, particularly loans made to borrowers with down payments below traditional thresholds.

National MI primarily offers private mortgage insurance for residential purchase and refinance transactions. Its products are designed for mortgage lenders, banks, credit unions and other housing-finance institutions, helping them expand access to homeownership while transferring a portion of potential credit risk.