NMI's (NMIH) "Buy (B)" Rating Reiterated at Weiss Ratings

Key Points

• NMI Holdings, Inc. (NMIH) received a "Buy" rating from Weiss Ratings, while other analysts have mixed reviews, with Barclays mentioning a "cautious" outlook.
• NMI reported earnings of $1.22 per share for the last quarter, exceeding estimates, though revenue of $149.07 million fell short of predictions.
• Institutional investors hold a significant 94.12% of NMI's stock, indicating strong institutional interest in the company.

NMI (NASDAQ:NMIH - Get Free Report)'s stock had its "buy (b)" rating reiterated by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the stock. Barclays reaffirmed a "cautious" rating on shares of NMI in a research report on Monday. Keefe, Bruyette & Woods lowered shares of NMI from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $42.00 to $43.00 in a research note on Monday, July 7th. JPMorgan Chase & Co. lowered their price objective on shares of NMI from $44.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Wall Street Zen lowered shares of NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.33.

NMI Stock Performance

NASDAQ NMIH opened at $35.99 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 1.04 and a beta of 0.56. The company has a 50 day moving average of $38.85 and a 200-day moving average of $38.16. NMI has a 1-year low of $31.90 and a 1-year high of $43.20.

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

Insider Activity at NMI

In other news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction on Monday, September 15th. The shares were sold at an average price of $39.31, for a total transaction of $783,291.06. Following the transaction, the director owned 78,960 shares in the company, valued at approximately $3,103,917.60. The trade was a 20.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On NMI

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its stake in NMI by 5.4% in the second quarter. American Century Companies Inc. now owns 2,249,799 shares of the financial services provider's stock valued at $94,919,000 after purchasing an additional 115,854 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings 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 valued at $73,341,000 after buying an additional 844,037 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of NMI by 0.3% during the second quarter. Geode Capital Management LLC now owns 1,966,970 shares of the financial services provider's stock valued at $82,996,000 after buying an additional 5,628 shares during the last quarter. Millennium Management LLC grew its holdings in shares of NMI by 209.9% during the first 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 during the last quarter. Finally, Nuveen LLC acquired a new position in shares of NMI during the first quarter valued at about $44,886,000. Institutional investors 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.

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