NMI (NASDAQ:NMIH) Shares Gap Up to $41.15

NMI Holdings, Inc. (NASDAQ:NMIH) gapped up before the market opened on Wednesday . The stock had previously closed at $41.15, but opened at $42.00. NMI shares last traded at $42.10, with a volume of 51,238 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada raised shares of NMI from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $40.00 to $48.00 in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Barclays raised their target price on shares of NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut shares of NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.00.

NMI Price Performance

The company has a market capitalization of $3.33 billion, a P/E ratio of 10.27, a P/E/G ratio of 0.89 and a beta of 1.12. The firm’s fifty day moving average is $38.94 and its 200 day moving average is $34.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. The business had revenue of $162.12 million for the quarter, compared to the consensus estimate of $138.49 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 EPS. As a group, analysts predict that NMI Holdings, Inc. will post 4.5 earnings per share for the current fiscal year.

Insider Activity

In related news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NMI news, insider William J. Leatherberry sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael J. Embler sold 26,008 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the completion of the transaction, the director now directly owns 61,607 shares of the company’s stock, valued at approximately $2,424,235.45. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Institutional Trading of NMI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NMIH. Opal Wealth Advisors LLC acquired a new stake in shares of NMI in the second quarter valued at about $29,000. Quarry LP grew its position in shares of NMI by 135.1% in the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 493 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of NMI in the first quarter valued at about $31,000. TFO Wealth Partners LLC grew its position in shares of NMI by 24,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,225 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of NMI in the second quarter valued at about $63,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Company Profile

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.