NMI Holdings Inc. (NMIH) Stock Rating Lowered by Zacks Investment Research
NMI Holdings Inc. (NASDAQ:NMIH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods set a $8.50 price objective on shares of NMI Holdings and gave the company a “buy” rating in a research note on Wednesday, August 3rd. BTIG Research reissued a “buy” rating and set a $10.00 price objective on shares of NMI Holdings in a research note on Tuesday, August 2nd. TheStreet raised shares of NMI Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. Finally, FBR & Co reaffirmed a “buy” rating and set a $9.00 price target on shares of NMI Holdings in a research note on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $9.40.
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NMI Holdings (NASDAQ:NMIH) traded up 1.20% during trading on Wednesday, hitting $7.60. 344,984 shares of the company’s stock traded hands. NMI Holdings has a 12-month low of $4.19 and a 12-month high of $8.23. The stock’s market cap is $449.37 million. The firm’s 50-day moving average price is $7.76 and its 200 day moving average price is $6.31.
NMI Holdings (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The business had revenue of $29.50 million for the quarter, compared to the consensus estimate of $24.79 million. NMI Holdings had a negative net margin of 13.51% and a negative return on equity of 2.80%. Analysts anticipate that NMI Holdings will post $0.15 earnings per share for the current fiscal year.
In other NMI Holdings news, Director James Ozanne acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was bought at an average price of $7.92 per share, with a total value of $39,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.90% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL acquired a new stake in NMI Holdings during the second quarter valued at about $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 during the last quarter. Panagora Asset Management Inc. acquired a new stake in NMI Holdings during the second quarter valued at about $122,000. BlackRock Advisors LLC raised its stake in NMI Holdings by 0.6% in the second quarter. BlackRock Advisors LLC now owns 26,243 shares of the company’s stock valued at $144,000 after buying an additional 155 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new stake in NMI Holdings during the first quarter valued at about $155,000. 80.38% of the stock is owned by institutional investors.
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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