NMI Holdings, Inc. (NASDAQ:NMIH) Receives Average Rating of “Moderate Buy” from Analysts

Shares of NMI Holdings, Inc. (NASDAQ:NMIH) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $43.43.

A number of equities analysts recently issued reports on NMIH shares. Truist Financial raised their target price on NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods lifted their target price on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada raised shares of NMI from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $48.00 in a research note on Wednesday, September 18th.

NMI Stock Up 4.6 %

Shares of NASDAQ NMIH opened at $39.28 on Thursday. The company has a market cap of $3.13 billion, a P/E ratio of 9.31, a PEG ratio of 0.84 and a beta of 1.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67. NMI has a 1 year low of $27.00 and a 1 year high of $42.49. The firm has a 50-day simple moving average of $40.34 and a two-hundred day simple moving average of $36.76.

Insider Activity at NMI

In other NMI news, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares in the company, valued at $6,158,318.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NMIH. GAMMA Investing LLC lifted its stake in NMI by 57.2% during the 3rd quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 265 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of NMI in the second quarter valued at approximately $29,000. Quarry LP boosted its stake in shares of NMI by 135.1% in the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 493 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of NMI in the first quarter valued at approximately $31,000. Finally, USA Financial Formulas purchased a new stake in NMI during the 3rd quarter worth approximately $57,000. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

About NMI

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.