NMI (NASDAQ:NMIH) Shares Gap Down Following Analyst Downgrade

NMI Holdings, Inc. (NASDAQ:NMIH)’s share price gapped down prior to trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $48.00 to $47.00. The stock had previously closed at $39.28, but opened at $36.96. Royal Bank of Canada currently has an outperform rating on the stock. NMI shares last traded at $36.71, with a volume of 75,944 shares.

A number of other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods upped 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. StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Barclays increased their price objective on shares of NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Truist Financial upped their target price on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.29.

Insider Transactions at NMI

In related news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the transaction, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NMIH. Opal Wealth Advisors LLC bought a new position in NMI in the 2nd quarter worth about $29,000. Quarry LP raised its holdings in shares of NMI by 135.1% in the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after buying an additional 493 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of NMI by 57.2% during the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 265 shares during the last quarter. USA Financial Formulas purchased a new position in shares of NMI during the third quarter worth $57,000. Finally, Picton Mahoney Asset Management acquired a new stake in NMI during the second quarter valued at $63,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Trading Down 5.2 %

The company has a market cap of $2.97 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.84 and a beta of 1.13. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average is $40.28 and its 200 day moving average is $36.76.

NMI (NASDAQ:NMIH) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $166.09 million for the quarter, compared to the consensus estimate of $164.59 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. Research analysts predict that NMI Holdings, Inc. will post 4.5 EPS for the current year.

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.