NMI (NASDAQ:NMIH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a note issued to investors on Tuesday.
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 analysts also recently issued research reports about the company. BTIG Research reaffirmed a “buy” rating and set a $21.00 price objective on shares of NMI in a research note on Sunday, February 18th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $25.00 price objective on shares of NMI in a research note on Friday, February 23rd. Compass Point raised NMI from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, February 6th. ValuEngine raised NMI from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, BidaskClub downgraded NMI from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $21.86.
NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.05. NMI had a return on equity of 7.89% and a net margin of 12.07%. The business had revenue of $54.54 million for the quarter, compared to analyst estimates of $51.32 million. During the same period last year, the company earned $0.04 EPS. The firm’s revenue was up 48.9% on a year-over-year basis. research analysts anticipate that NMI will post 1.34 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of NMIH. Macquarie Group Ltd. acquired a new stake in NMI during the 3rd quarter worth $113,000. First Mercantile Trust Co. acquired a new stake in shares of NMI in the 4th quarter valued at about $136,000. Citadel Advisors LLC acquired a new stake in shares of NMI in the 3rd quarter valued at about $141,000. SG Americas Securities LLC acquired a new stake in shares of NMI in the 3rd quarter valued at about $156,000. Finally, Algert Global LLC acquired a new stake in shares of NMI in the 3rd quarter valued at about $179,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.
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NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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