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

NMI (NASDAQ:NMIH) had its target price lowered by B. Riley from $34.00 to $29.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has 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.

Other equities analysts have also issued research reports about the company. Credit Suisse Group reissued a hold rating and set a $33.00 target price on shares of NMI in a research note on Sunday, November 24th. ValuEngine raised NMI from a strong sell rating to a sell rating in a research note on Monday, March 9th. BTIG Research increased their target price on NMI from $36.00 to $41.00 and gave the stock a buy rating in a research note on Wednesday, February 12th. Zacks Investment Research lowered NMI from a hold rating to a sell rating in a research note on Thursday, March 19th. Finally, Barclays reissued a buy rating and set a $38.00 target price on shares of NMI in a research note on Monday, March 9th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $34.15.

NMIH traded up $2.06 during mid-day trading on Monday, hitting $13.90. 1,513,335 shares of the stock were exchanged, compared to its average volume of 923,662. The firm’s fifty day moving average is $24.18 and its two-hundred day moving average is $29.30. NMI has a 1-year low of $8.06 and a 1-year high of $35.79. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.16. The company has a market cap of $733.66 million, a PE ratio of 5.70 and a beta of 1.53.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $104.90 million for the quarter, compared to analyst estimates of $104.11 million. As a group, research analysts anticipate that NMI will post 3.01 earnings per share for the current year.

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

A number of hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new position in shares of NMI in the 3rd quarter valued at about $27,000. FNY Investment Advisers LLC purchased a new position in shares of NMI in the 4th quarter valued at about $33,000. Toronto Dominion Bank purchased a new position in shares of NMI in the 4th quarter valued at about $33,000. Advisors Asset Management Inc. increased its holdings in shares of NMI by 32.9% in the 4th quarter. Advisors Asset Management Inc. now owns 2,717 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 673 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of NMI in the 3rd quarter valued at about $158,000. 91.34% of the stock is currently owned by institutional investors.

About NMI

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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Analyst Recommendations for NMI (NASDAQ:NMIH)

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