Key Points
- Insider William Leatherberry sold 60,277 NMI shares at an average of $38.61, totaling about $2.33 million; he retained 99,057 shares after reducing his ownership by 37.83%.
- NMI reported quarterly EPS of $1.23, missing the $1.30 consensus estimate, while revenue of $187.55 million exceeded analysts’ $159.20 million forecast.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $47.88; five analysts rate the stock Buy and three rate it Hold.
NMI Holdings Inc (NASDAQ:NMIH - Get Free Report) insider William Leatherberry sold 60,277 shares of NMI stock in a transaction on Friday, November 13th. The shares were sold at an average price of $38.61, for a total transaction of $2,327,294.97. Following the completion of the sale, the insider owned 99,057 shares in the company, valued at $3,824,590.77. The trade was a 37.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
NMI Stock Down 0.6%
NASDAQ:NMIH traded down $0.23 on Friday, hitting $38.65. 567,870 shares of the company's stock were exchanged, compared to its average volume of 945,805. The firm has a 50-day moving average price of $41.44 and a 200-day moving average price of $40.39. NMI Holdings Inc has a 52 week low of $35.12 and a 52 week high of $46.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.67 and a quick ratio of 0.65. The company has a market cap of $2.88 billion, a P/E ratio of 7.59, a price-to-earnings-growth ratio of 4.88 and a beta of 0.52.
NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The financial services provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). The company had revenue of $187.55 million during the quarter, compared to the consensus estimate of $159.20 million. NMI had a net margin of 53.11% and a return on equity of 14.78%. During the same quarter in the previous year, the business earned $1.21 EPS. As a group, analysts expect that NMI Holdings Inc will post 5.21 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently issued reports on NMIH shares. BTIG Research assumed coverage on NMI in a report on Tuesday, September 22nd. They set a "buy" rating and a $54.00 target price on the stock. Barclays decreased their price target on NMI from $43.00 to $42.00 and set an "equal weight" rating for the company in a research note on Friday, November 6th. Truist Financial boosted their price target on NMI from $49.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and set a $47.00 price objective on the stock. in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $53.00 price objective 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.88.
Read Our Latest Analysis on NMI
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Entropy Technologies LP increased its stake in shares of NMI by 339.6% during the 3rd quarter. Entropy Technologies LP now owns 78,502 shares of the financial services provider's stock worth $2,930,000 after purchasing an additional 60,645 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in NMI in the 3rd quarter valued at about $534,000. Empowered Funds LLC lifted its stake in NMI by 97.2% in the 3rd quarter. Empowered Funds LLC now owns 312,857 shares of the financial services provider's stock valued at $11,676,000 after purchasing an additional 154,169 shares during the last quarter. Bleakley Financial Group LLC bought a new position in NMI during the third quarter worth about $569,000. Finally, First Trust Advisors LP grew its holdings in NMI by 8.5% during the third quarter. First Trust Advisors LP now owns 157,585 shares of the financial services provider's stock worth $5,881,000 after purchasing an additional 12,327 shares during the period. Institutional investors own 94.12% of the company's stock.
About NMI
(
Get Free Report)
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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