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

NMI (NASDAQ:NMIH)‘s stock had its “buy (b)” rating reaffirmed by equities researchers at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

NMIH has been the topic of several other research reports. Keefe, Bruyette & Woods lowered NMI from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $42.00 to $43.00 in a research note on Monday, July 7th. JPMorgan Chase & Co. dropped their price objective on NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Wall Street Zen lowered NMI from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Barclays restated a “cautious” rating on shares of NMI in a research note on Monday, October 6th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

NMI Price Performance

NASDAQ:NMIH opened at $36.92 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $38.26 and its two-hundred day moving average price is $38.25. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 7.84, a P/E/G ratio of 1.07 and a beta of 0.56. NMI has a 12-month low of $31.90 and a 12-month high of $43.20.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.06. The firm had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%.The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, analysts anticipate that NMI will post 4.62 earnings per share for the current year.

Insider Buying and Selling at NMI

In other news, Director Steven Scheid sold 19,926 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was 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. This trade represents 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 this link. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On NMI

Large investors have recently made changes to their positions in the company. American Century Companies Inc. grew its position in NMI by 5.4% during the second quarter. American Century Companies Inc. now owns 2,249,799 shares of the financial services provider’s stock worth $94,919,000 after buying an additional 115,854 shares in the last quarter. Geode Capital Management LLC grew its position in 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 worth $82,996,000 after buying an additional 5,628 shares in the last quarter. Millennium Management LLC grew its position in NMI by 209.9% during the first quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider’s stock worth $51,658,000 after buying an additional 970,551 shares in the last quarter. Nuveen LLC acquired a new stake in NMI during the first quarter worth approximately $44,886,000. Finally, Frontier Capital Management Co. LLC grew its position in NMI by 3.9% during the second quarter. Frontier Capital Management Co. LLC now owns 1,119,957 shares of the financial services provider’s stock worth $47,251,000 after buying an additional 42,436 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

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.