NMI (NASDAQ:NMIH) Shares Gap Down to $33.77

NMI Holdings, Inc. (NASDAQ:NMIH) gapped down prior to trading on Wednesday . The stock had previously closed at $33.77, but opened at $32.81. NMI shares last traded at $32.91, with a volume of 80,194 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group lowered shares of NMI from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $37.00 to $39.00 in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price target on shares of NMI from $31.00 to $33.00 and gave the stock a “sector perform” rating in a report on Thursday, February 15th. Compass Point upped their price objective on shares of NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, StockNews.com raised shares of NMI from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.56.

NMI Stock Performance

The firm has a market capitalization of $2.61 billion, a P/E ratio of 8.06, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06. The company’s 50 day moving average is $31.57 and its 200-day moving average is $30.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.12. The business had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. NMI had a net margin of 56.26% and a return on equity of 18.09%. NMI’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. As a group, equities analysts anticipate that NMI Holdings, Inc. will post 4.24 EPS for the current year.

Insider Transactions at NMI

In other NMI news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $29.95, for a total transaction of $33,454.15. Following the transaction, the executive vice president now directly owns 32,909 shares in the company, valued at approximately $985,624.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $29.95, for a total transaction of $33,454.15. Following the completion of the sale, the executive vice president now directly owns 32,909 shares of the company’s stock, valued at $985,624.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James G. Jones sold 54,900 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $30.16, for a total value of $1,655,784.00. Following the completion of the transaction, the director now directly owns 57,641 shares in the company, valued at approximately $1,738,452.56. The disclosure for this sale can be found here. Insiders sold a total of 125,763 shares of company stock valued at $3,808,175 over the last ninety days. 2.70% of the stock is currently owned by insiders.

Institutional Trading of NMI

Several hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its stake in shares of NMI by 426.0% during the 3rd quarter. Lazard Asset Management LLC now owns 52,255 shares of the financial services provider’s stock worth $1,414,000 after purchasing an additional 42,321 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of NMI by 7.5% during the 4th quarter. Panagora Asset Management Inc. now owns 497,427 shares of the financial services provider’s stock valued at $14,764,000 after purchasing an additional 34,620 shares during the period. Tudor Investment Corp Et Al lifted its holdings in NMI by 223.8% during the 3rd quarter. Tudor Investment Corp Et Al now owns 205,640 shares of the financial services provider’s stock worth $5,571,000 after purchasing an additional 142,135 shares in the last quarter. Quest Partners LLC bought a new position in NMI in the 4th quarter worth about $1,773,000. Finally, Federated Hermes Inc. boosted its stake in NMI by 39,091.4% in the 4th quarter. Federated Hermes Inc. now owns 31,745 shares of the financial services provider’s stock worth $942,000 after purchasing an additional 31,664 shares during the period. Institutional investors own 94.12% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.