According to Bloomberg Ratings, NMI Holdings, Inc. (NASDAQ:NMIH) has received a consensus recommendation of “Moderate Buy” from the six analysts currently covering the company. Out of the six analysts, three have given a hold rating and three have issued a buy rating on the stock. The average one-year price objective among these analysts is $28.75.
In recent news, Director James G. Jones sold 3,952 shares of NMI Holdings’ stock on August 3rd in a transaction that amounted to $115,042.72. The shares were sold at an average price of $29.11. Following this transaction, James G. Jones now holds 118,528 shares in the company with an estimated value of $3,450,350.08. This information was disclosed in a document filed with the Securities and Exchange Commission (SEC), accessible through the provided link. It is worth noting that company insiders currently own 2.70% of NMI Holdings’ stock.
Looking at NMI Holdings’ latest quarterly earnings results released on August 1st, the financial services provider reported earnings per share (EPS) of $0.95 for the quarter, surpassing analysts’ consensus estimates by $0.08 per share ($0.87). NMI Holdings achieved a net margin of 56.07% and a return on equity of 18.47%. The company generated revenue totaling $142.70 million during this quarter compared to analyst expectations of $123.95 million – an increase of 7.9% compared to the same period last year when they earned $0/86 EPS.
Based on sell-side analysts’ forecasts, it is expected that NMI Holdings will post an EPS of 3.68 for the current year.
Overall, NMI Holdings has received a “Moderate Buy” recommendation from analysts with three holding and three buying positions on the stock. This rating, along with the positive quarterly earnings results, indicates a favorable outlook for the company. Investors may want to consider this information when making investment decisions regarding NMI Holdings, Inc.
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Positive Outlook and Confidence in NMI Holdings Inc. Stock Performance
In the realm of equities research, a number of analysts have recently examined the stock performance of NMI Holdings Inc. (NMIH). To deliver an accurate analysis, StockNews.com initiated coverage on the company’s shares in a report released on Thursday, August 17th. Their evaluation led them to issue a “buy” rating on the stock. Truist Financial also weighed in with their assessment, increasing their price objective for NMI from $30.00 to $34.00 and presenting it with a buy rating in their report published on Wednesday, August 2nd.
Another notable financial institution, JPMorgan Chase & Co., also revised their price objective for NMI, upgrading it from $31.00 to $32.00 and assigning the stock an “overweight” rating in their report released on the same day as Truist Financial’s assessment. Compass Point took a more conservative approach but still revised its price objective upward from $30.00 to $31.00 in their investigation.
Lastly, Citigroup conducted its own comprehensive analysis recommending investors to consider buying NMI’s shares due to its potential growth opportunities by upgrading its price objective from $28.00 to $33.00.
Looking beyond equities research assessments, it is interesting to highlight recent adjustments made by institutional investors and hedge funds regarding their holdings of NMI Holdings Inc.’s shares. The HRT Financial LP acquired a new position in NMI during the fourth quarter with a purchase worth approximately $1,426,000.
Royce & Associates LP increased its stake in NMI by almost 95% during the first quarter by acquiring an additional 77,012 shares valued at around $3,533,000.
Moreover, Aviva PLC boosted its holdings in NMI by around 30% during the first quarter through an acquisition of an additional 14,845 shares valued at approximately $1,437,000.
Additionally, Guggenheim Capital LLC reported a significant increase of 104.1% in its ownership of NMI shares during the first quarter by acquiring an extra 14,568 shares valued at roughly $638,000.
Finally, Strs Ohio intensified its participation in NMI’s stock by a staggering 1,193.3% during the first quarter through an acquisition of an additional 35,800 shares valued at around $866,000.
These modifications demonstrate the confidence institutional investors and hedge funds hold in NMI Holdings Inc.’s potential for growth and profitability. Currently, approximately 94.12% of the stock is owned by these entities.
In terms of specific figures related to NMI’s stock performance, it opened at $27.84 on Wednesday. Over the past year, it achieved a low of $19.02 and reached a high of $30.14.
Moreover, NMI has amassed a market capitalization amounting to an impressive $2.29 billion as of the reference date set as September 27th, 2023. With a price-to-earnings ratio standing at 7.75 and a beta indicating a slightly above-average level of risk compared to the market average (1.18), NMI exemplifies its potential for investment within this realm.
Examining its moving averages further reveals that over the past 50 days, NMI boasted an average trading price of $28.29 per share while recording an even higher average value of $25.54 per share over the past 200 days.
Assessing its liquidity ratios showcases that NMI Presents itself with both a current ratio and quick ratio standing at 0.65 respectively—a factor which leads to further scrutiny concerning its financial capabilities regarding short-term obligations.
In conclusion, various equities research analysts have weighed in on the stock performance of NMI Holdings Inc., issuing “buy” ratings and revising their price objectives upward. Institutional investors and hedge funds have also shown confidence in the stock by significantly increasing their holdings. The specific figures related to NMI’s stock performance, such as its market capitalization, P/E ratio, and moving averages further solidify its potential as an investment opportunity. However, it is essential for investors to conduct thorough research and consider factors such as trading trends and liquidity ratios before making any investment decisions.
