NMI Holdings Inc. (NMIH) Upgraded to “Buy” by Zacks Investment Research
NMI Holdings Inc. (NASDAQ:NMIH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $9.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 10.70% from the stock’s previous close.
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. “
Several other equities analysts have also recently issued reports on NMIH. FBR & Co reissued an “outperform” rating on shares of NMI Holdings in a research note on Friday, September 23rd. TheStreet raised shares of NMI Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. BTIG Research reissued a “buy” rating and issued a $10.00 price objective on shares of NMI Holdings in a research note on Tuesday, August 2nd. Finally, 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $9.60.
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NMI Holdings (NASDAQ:NMIH) opened at 8.13 on Wednesday. The stock has a 50 day moving average of $7.80 and a 200 day moving average of $6.37. NMI Holdings has a 1-year low of $4.19 and a 1-year high of $8.23. The stock’s market capitalization is $480.71 million.
NMI Holdings (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. NMI Holdings had a negative net margin of 13.51% and a negative return on equity of 2.80%. The firm earned $29.50 million during the quarter, compared to the consensus estimate of $24.79 million. On average, analysts expect that NMI Holdings will post $0.15 earnings per share for the current year.
In related news, Director James Ozanne purchased 5,000 shares of the stock in a transaction dated Friday, August 26th. The shares were acquired at an average cost of $7.92 per share, with a total value of $39,600.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 16.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. CI Investments Inc. boosted its position in NMI Holdings by 1.0% in the second quarter. CI Investments Inc. now owns 3,186,990 shares of the company’s stock worth $17,465,000 after buying an additional 31,641 shares during the period. Waterstone Capital Management L.P. boosted its position in NMI Holdings by 6.0% in the second quarter. Waterstone Capital Management L.P. now owns 1,947,913 shares of the company’s stock worth $10,675,000 after buying an additional 110,200 shares during the period. Vanguard Group Inc. boosted its position in NMI Holdings by 3.0% in the second quarter. Vanguard Group Inc. now owns 1,915,770 shares of the company’s stock worth $10,498,000 after buying an additional 55,503 shares during the period. V3 Capital Management L.P. boosted its position in NMI Holdings by 47.1% in the first quarter. V3 Capital Management L.P. now owns 1,792,600 shares of the company’s stock worth $9,053,000 after buying an additional 573,604 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in NMI Holdings by 9.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,545,966 shares of the company’s stock worth $8,472,000 after buying an additional 127,379 shares during the period. 80.38% of the stock is currently owned by institutional investors and hedge funds.
About NMI Holdings
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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