NMI (NASDAQ:NMIH) Price Target Lowered to $29.00 at B. Riley

NMI (NASDAQ:NMIH) had its target price reduced by B. Riley from $34.00 to $29.00 in a research report report published on Monday morning, BenzingaRatingsTable reports. They currently have a buy rating on the financial services provider’s stock. B. Riley also issued estimates for NMI’s Q1 2020 earnings at $0.63 EPS, FY2020 earnings at $2.50 EPS and FY2021 earnings at $3.00 EPS.

NMIH has been the subject of a number of other reports. JPMorgan Chase & Co. downgraded NMI from an overweight rating to a neutral rating and decreased their price target for the company from $37.00 to $36.50 in a report on Wednesday, February 12th. BidaskClub downgraded NMI from a hold rating to a sell rating in a report on Saturday, March 21st. ValuEngine raised NMI from a strong sell rating to a sell rating in a report on Monday, March 9th. Susquehanna Bancshares raised NMI from a neutral rating to a positive rating and set a $36.00 price target for the company in a report on Wednesday, February 26th. Finally, Compass Point raised NMI from a neutral rating to a buy rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $34.15.

NASDAQ:NMIH traded up $2.06 during trading hours on Monday, reaching $13.90. The company had a trading volume of 1,513,335 shares, compared to its average volume of 923,662. NMI has a 1-year low of $8.06 and a 1-year high of $35.79. The firm has a market cap of $733.66 million, a PE ratio of 5.70 and a beta of 1.53. The business’s 50 day moving average price is $24.18 and its 200-day moving average price is $29.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.47 and a quick ratio of 0.47.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. NMI had a return on equity of 21.67% and a net margin of 45.40%. The company had revenue of $104.90 million during the quarter, compared to the consensus estimate of $104.11 million. On average, analysts expect that NMI will post 3.01 earnings per share for the current fiscal year.

In other news, Chairman Bradley M. Shuster sold 25,625 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $32.24, for a total transaction of $826,150.00. Following the completion of the transaction, the chairman now directly owns 517,927 shares of the company’s stock, valued at approximately $16,697,966.48. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven Scheid sold 27,325 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $30.33, for a total value of $828,767.25. Following the transaction, the director now directly owns 80,947 shares of the company’s stock, valued at $2,455,122.51. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Comerica Bank raised its stake in shares of NMI by 0.5% during the 4th quarter. Comerica Bank now owns 63,930 shares of the financial services provider’s stock worth $2,085,000 after buying an additional 300 shares during the period. Texas Permanent School Fund increased its position in shares of NMI by 0.8% during the fourth quarter. Texas Permanent School Fund now owns 46,500 shares of the financial services provider’s stock worth $1,543,000 after purchasing an additional 375 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of NMI by 2.0% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 20,740 shares of the financial services provider’s stock worth $688,000 after purchasing an additional 400 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of NMI by 5.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 8,547 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 429 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of NMI by 4.0% during the fourth quarter. Amalgamated Bank now owns 12,605 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 487 shares in the last quarter. 91.34% of the stock is owned by institutional investors and hedge funds.

NMI Company Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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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