Weiss Ratings Reaffirms "Buy (B)" Rating for NMI (NASDAQ:NMIH)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B)" rating for NMI Holdings Inc. (NASDAQ:NMIH), indicating a positive outlook despite mixed opinions from other analysts.
• NMI reported earnings of $1.22 per share, outperforming estimates, but its revenue of $149.07 million fell short of analyst expectations.
• Institutional investors hold a significant 94.12% of NMI's stock, reflecting strong confidence in the company's performance.

NMI (NASDAQ:NMIH - Get Free Report)'s stock had its "buy (b)" rating restated by Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Several other equities research analysts also recently issued reports on the company. Wall Street Zen downgraded NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. JPMorgan Chase & Co. lowered their price target on NMI from $44.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, October 7th. Barclays restated a "cautious" rating on shares of NMI in a report on Monday, October 6th. Finally, Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and upped their price objective for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, NMI currently has an average rating of "Moderate Buy" and an average target price of $42.33.

NMI Price Performance

NMI stock opened at $36.92 on Friday. The firm has a market capitalization of $2.86 billion, a P/E ratio of 7.84, a PEG ratio of 1.07 and a beta of 0.56. NMI has a 1 year low of $31.90 and a 1 year high of $43.20. The business has a 50-day moving average of $38.26 and a 200-day moving average of $38.25. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH - Get Free Report) last posted its earnings results 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 company had revenue of $149.07 million during the quarter, compared to analyst estimates of $173.39 million. During the same period in the previous year, the company earned $1.20 EPS. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that NMI will post 4.62 EPS for the current year.

Insider Buying and Selling at NMI

In other news, Director Steven Scheid sold 19,926 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the completion of the transaction, the director directly owned 78,960 shares of the company's stock, valued at $3,103,917.60. This represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of NMI

Several institutional investors and hedge funds have recently bought and sold shares of NMIH. GAMMA Investing LLC raised its holdings in NMI by 104.2% during the first quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock worth $56,000 after acquiring an additional 798 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in NMI by 90.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,543 shares of the financial services provider's stock worth $416,000 after acquiring an additional 5,492 shares in the last quarter. Diversified Trust Co raised its holdings in NMI by 2.6% during the first quarter. Diversified Trust Co now owns 32,769 shares of the financial services provider's stock worth $1,181,000 after acquiring an additional 829 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in NMI by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,012 shares of the financial services provider's stock worth $696,000 after acquiring an additional 6,659 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in NMI by 18.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,800 shares of the financial services provider's stock worth $281,000 after acquiring an additional 1,200 shares in the last quarter. 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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