NMI (NASDAQ:NMIH) Shares Gap Down After Analyst Downgrade

NMI Holdings, Inc. (NASDAQ:NMIH)’s share price gapped down before the market opened on Thursday after Royal Bank of Canada lowered their price target on the stock from $48.00 to $47.00. The stock had previously closed at $39.28, but opened at $36.96. Royal Bank of Canada currently has an outperform rating on the stock. NMI shares last traded at $36.71, with a volume of 75,944 shares.

A number of other research analysts also recently issued reports on the company. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Barclays increased their price target on shares of NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of NMI from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Truist Financial increased their target price on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price target on NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.29.

Insider Activity

In other news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the sale, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of NMI

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Chase Investment Counsel Corp purchased a new stake in NMI during the third quarter worth about $3,763,000. GSA Capital Partners LLP boosted its holdings in shares of NMI by 486.1% in the 3rd quarter. GSA Capital Partners LLP now owns 48,754 shares of the financial services provider’s stock valued at $2,008,000 after buying an additional 40,435 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of NMI during the third quarter worth about $234,000. Versor Investments LP acquired a new position in NMI during the third quarter worth approximately $861,000. Finally, Chartwell Investment Partners LLC raised its position in NMI by 21.3% in the 3rd quarter. Chartwell Investment Partners LLC now owns 38,599 shares of the financial services provider’s stock valued at $1,589,000 after purchasing an additional 6,787 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Stock Down 6.3 %

The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 0.84 and a beta of 1.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50 day moving average price is $40.34 and its two-hundred day moving average price is $36.76.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.05. The company had revenue of $166.09 million for the quarter, compared to analysts’ expectations of $164.59 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. As a group, sell-side analysts forecast that NMI Holdings, Inc. will post 4.5 earnings per share for the current fiscal year.

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.