NMI (NASDAQ:NMIH) Downgraded by StockNews.com to Hold

StockNews.com cut shares of NMI (NASDAQ:NMIH) from a buy rating to a hold rating in a research note released on Thursday.

Other equities research analysts have also recently issued research reports about the company. Truist Financial boosted their target price on NMI from $36.00 to $37.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Compass Point boosted their price target on shares of NMI from $33.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. raised their price objective on NMI from $36.00 to $40.00 and gave the company an overweight rating in a report on Monday. Keefe, Bruyette & Woods increased their price target on NMI from $33.00 to $36.00 and gave the company a market perform rating in a research report on Thursday, April 4th. Finally, Barclays raised their price target on NMI from $40.00 to $41.00 and gave the company an overweight rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $36.44.

NMI Stock Performance

NMIH stock opened at $35.43 on Thursday. The company has a 50 day moving average price of $33.30 and a 200 day moving average price of $31.34. The stock has a market capitalization of $2.84 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. NMI has a fifty-two week low of $25.62 and a fifty-two week high of $35.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.12. The business had revenue of $156.25 million for the quarter, compared to analyst estimates of $133.76 million. NMI had a return on equity of 18.09% and a net margin of 56.26%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Analysts forecast that NMI will post 4.24 EPS for the current year.

Institutional Trading of NMI

Several institutional investors have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. bought a new position in shares of NMI in the fourth quarter worth approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of NMI in the 1st quarter worth about $31,000. TFO Wealth Partners LLC lifted its position in shares of NMI by 24,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,225 shares during the period. CWM LLC boosted its stake in shares of NMI by 92.7% during the 2nd quarter. CWM LLC now owns 2,974 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 1,431 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in NMI in the fourth quarter worth about $145,000. 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.