Compass Point Forecasts Strong Price Appreciation for NMI (NASDAQ:NMIH) Stock

NMI (NASDAQ:NMIH - Get Free Report) had its price objective boosted by investment analysts at Compass Point from $34.00 to $37.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Compass Point's price target suggests a potential downside of 2.04% from the company's previous close.

A number of other analysts have also commented on the company. Keefe, Bruyette & Woods reduced their target price on NMI from $43.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Wall Street Zen upgraded NMI from a "hold" rating to a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. lowered their target price on shares of NMI from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group dropped their price target on shares of NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.29.

NMI Trading Up 0.3%

NASDAQ NMIH opened at $37.77 on Friday. NMI has a 12 month low of $31.60 and a 12 month high of $42.49. The stock's fifty day moving average price is $35.65 and its 200-day moving average price is $36.65. The stock has a market cap of $2.95 billion, a P/E ratio of 8.53, a P/E/G ratio of 1.41 and a beta of 0.56. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.

NMI (NASDAQ:NMIH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.18. NMI had a net margin of 55.32% and a return on equity of 17.33%. The firm had revenue of $173.25 million for the quarter, compared to the consensus estimate of $169.04 million. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The business's revenue was up 10.8% on a year-over-year basis. As a group, equities analysts forecast that NMI will post 4.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other NMI news, insider William J. Leatherberry sold 13,111 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $35.56, for a total value of $466,227.16. Following the transaction, the insider now directly owns 163,796 shares in the company, valued at approximately $5,824,585.76. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of NMI stock in a transaction on Monday, February 24th. The stock was sold at an average price of $35.88, for a total transaction of $717,600.00. Following the transaction, the executive vice president now owns 37,470 shares in the company, valued at $1,344,423.60. This represents a 34.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,152 shares of company stock valued at $4,075,617. Insiders own 3.00% of the company's stock.

Institutional Trading of NMI

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen LLC bought a new stake in NMI during the first quarter valued at about $44,886,000. Millennium Management LLC grew its holdings in NMI by 209.9% during the 1st quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider's stock valued at $51,658,000 after buying an additional 970,551 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of NMI by 70.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock worth $73,341,000 after acquiring an additional 844,037 shares during the last quarter. Norges Bank purchased a new position in NMI during the fourth quarter valued at $13,174,000. Finally, Raymond James Financial Inc. purchased a new position in NMI during the fourth quarter valued at $13,136,000. 94.12% of the stock is owned by hedge funds and other institutional investors.

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.

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