NMI (NASDAQ:NMIH) Insider Sells 60,277 Shares of Stock

Key Points

• NMI insider William Leatherberry sold 60,277 shares for about $2.33 million, reducing his position by 37.83% to 99,057 shares.
• NMI reported quarterly EPS of $1.23, missing analysts’ $1.30 estimate, while revenue of $187.55 million exceeded expectations of $159.20 million.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $47.88; shares traded at $38.65 on Friday.

NMI Holdings Inc (NASDAQ:NMIH - Get Free Report) insider William Leatherberry sold 60,277 shares of NMI stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $38.61, for a total value of $2,327,294.97. Following the sale, the insider owned 99,057 shares in the company, valued at $3,824,590.77. This trade represents a 37.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NMI Stock Performance

Shares of NASDAQ NMIH traded down $0.23 during trading hours on Friday, reaching $38.65. The stock had a trading volume of 567,870 shares, compared to its average volume of 945,805. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 4.88 and a beta of 0.52. The company has a current ratio of 0.67, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15. NMI Holdings Inc has a fifty-two week low of $35.12 and a fifty-two week high of $46.74. The firm has a 50-day moving average of $41.44 and a 200-day moving average of $40.39.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.07). The firm had revenue of $187.55 million for the quarter, compared to analysts' expectations of $159.20 million. NMI had a return on equity of 14.78% and a net margin of 53.11%. During the same quarter in the prior year, the business earned $1.21 EPS. Equities research analysts predict that NMI Holdings Inc will post 5.21 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their price objective on NMI from $43.00 to $42.00 and set an "equal weight" rating for the company in a report on Friday, November 6th. JPMorgan Chase & Co. lifted their target price on shares of NMI from $45.00 to $46.00 and gave the company an "overweight" rating in a report on Tuesday. Truist Financial upped their price target on shares of NMI from $49.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, July 31st. BTIG Research initiated coverage on shares of NMI in a research report on Tuesday, September 22nd. They issued a "buy" rating and a $54.00 price target for the company. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $53.00 price target on shares of NMI in a research note on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $47.88.

Hedge Funds Weigh In On NMI

Several institutional investors have recently added to or reduced their stakes in NMIH. Dimensional Fund Advisors LP raised its stake in NMI by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,351,808 shares of the financial services provider's stock valued at $163,237,000 after acquiring an additional 34,372 shares during the last quarter. Bank of America Corp DE grew its stake in shares of NMI by 22.7% in the 1st quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider's stock valued at $48,937,000 after purchasing an additional 241,724 shares during the last quarter. Donald Smith & CO. Inc. purchased a new position in shares of NMI in the 2nd quarter valued at approximately $36,262,000. Bank of New York Mellon Corp purchased a new position in shares of NMI in the 2nd quarter valued at approximately $20,919,000. Finally, Winmill & CO. Inc. acquired a new position in shares of NMI in the second quarter valued at approximately $16,276,000. Institutional investors and hedge funds own 94.12% of the company's stock.

About NMI

NMI Holdings, Inc. provides private mortgage insurance through its subsidiary, National Mortgage Insurance Corporation. Its coverage helps lenders manage the risk of mortgage loans made to borrowers who have smaller down payments, while enabling borrowers to qualify for home financing without a 20% down payment. The company offers mortgage insurance products and related services to mortgage lenders, banks, credit unions and other housing-market participants. Its offerings include borrower-paid and lender-paid coverage, along with technology and services that support mortgage insurance underwriting and policy management.

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