Barclays Raises NMI (NASDAQ:NMIH) Price Target to $43.00

Key Points

• Barclays has raised the price target for NMI Holdings Inc. (NASDAQ:NMIH) from $42.00 to $43.00, indicating a potential upside of 17.28% from the stock's previous close.
• The stock currently holds an average rating of "Moderate Buy" among analysts, with four analysts rating it as a Buy and three as a Hold.
• NMI's latest earnings report showed an EPS of $1.22, exceeding estimates and reflecting a 7.2% year-over-year revenue increase.

NMI (NASDAQ:NMIH - Get Free Report) had its price target lifted by analysts at Barclays from $42.00 to $43.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective would indicate a potential upside of 17.28% from the stock's previous close.

Several other research firms have also recently issued reports on NMIH. Weiss Ratings restated a "buy (b)" rating on shares of NMI in a report on Saturday, September 27th. Wall Street Zen downgraded NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. boosted their price target on NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods downgraded NMI from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $42.50.

NMI Stock Performance

NMI stock opened at $36.67 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a fifty day moving average of $38.94 and a two-hundred day moving average of $38.18. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 1.06 and a beta of 0.56. NMI has a fifty-two week low of $31.90 and a fifty-two week high of $43.20.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. NMI had a return on equity of 16.51% and a net margin of 55.57%.The business had revenue of $149.07 million for the quarter, compared to analysts' expectations of $173.39 million. During the same quarter last year, the firm earned $1.20 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. On average, analysts anticipate that NMI will post 4.62 EPS for the current fiscal year.

Insider Buying and Selling

In other NMI news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the transaction, the director directly owned 78,960 shares in the company, valued at $3,103,917.60. The trade was a 20.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NMI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC acquired a new position in shares of NMI during the first quarter worth approximately $25,000. Maseco LLP acquired a new position in shares of NMI during the second quarter worth approximately $32,000. Opal Wealth Advisors LLC acquired a new position in shares of NMI during the first quarter worth approximately $33,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of NMI during the second quarter worth approximately $36,000. Finally, Neo Ivy Capital Management acquired a new position in shares of NMI during the first quarter worth approximately $47,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

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.

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