Zacks Investment Research upgraded shares of NMI Holdings Inc. (NASDAQ:NMIH) from a hold rating to a buy rating in a research report report published on Wednesday. Zacks Investment Research currently has $9.00 price target on the stock.
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. “
A number of other equities analysts also recently weighed in on the company. TheStreet upgraded NMI Holdings from a sell rating to a hold rating in a research note on Friday, August 12th. FBR & Co restated a buy rating and issued a $9.00 target price on shares of NMI Holdings in a research note on Thursday, August 4th. Keefe, Bruyette & Woods set a $8.50 target price on NMI Holdings and gave the stock a buy rating in a research note on Wednesday, August 3rd. Finally, BTIG Research restated a buy rating and issued a $10.00 target price on shares of NMI Holdings in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $9.60.
NMI Holdings (NASDAQ:NMIH) opened at 7.97 on Wednesday. The company’s market cap is $471.25 million. NMI Holdings has a 52 week low of $4.19 and a 52 week high of $8.20. The stock’s 50 day moving average price is $7.81 and its 200-day moving average price is $6.45.
NMI Holdings (NASDAQ:NMIH) last announced its earnings results on Tuesday, August 2nd. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. NMI Holdings had a negative return on equity of 2.80% and a negative net margin of 13.51%. The firm had revenue of $29.50 million for the quarter, compared to the consensus estimate of $24.79 million. On average, equities research analysts forecast that NMI Holdings will post $0.15 earnings per share for the current fiscal year.
In other news, Director James Ozanne acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average price of $7.92 per share, for a total transaction of $39,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of NMIH. Virginia Retirement Systems ET AL purchased a new position in NMI Holdings during the second quarter valued at approximately $100,000. Fox Run Management L.L.C. bought a new stake in NMI Holdings during the third quarter valued at about $107,000. Dynamic Technology Lab Private Ltd increased 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 in the last quarter. Panagora Asset Management Inc. bought a new stake in NMI Holdings during the second quarter valued at about $122,000. Finally, BlackRock Advisors LLC increased 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 in the last quarter. Institutional investors and hedge funds own 80.37% of the company’s stock.
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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