NMI (NASDAQ:NMIH) is setting a new 52-week high at $42.08

VaselineSeptember 20, 2024

0 4 minutes read

NMI Holdings, Inc. share price. (NASDAQ:NMIH – Get Free Report ) hit a new 52-week high during trading on Tuesday . The stock traded as high as $42.08 and last traded at $42.06, with a volume of 70695 shares changing hands. Shares previously closed at $41.73.

The Wall Street analyst weighs in

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised NMI from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $40.00 to $48.00 in a research note on Wednesday. Truist Financial boosted their price target on NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays raised their target price on shares of NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, UBS Group lowered shares of NMI from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $37.00 to $39.00 in a research note from Wednesday, May 22. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00, based on data from MarketBeat.

Check out the latest inventory report on NMIH

NMI stock performance

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The stock’s 50-day moving average price is $38.82 and its 200-day moving average price is $34.39. The company has a quick ratio of 0.67, a current ratio of 0.67, and a debt-to-equity ratio of 0.20. The company has a market cap of $3.33 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 0.89 and a beta of 1.12.

NMI (NASDAQ:NMIH – Get Your Free Report ) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.05 by $0.15. NMI had a net margin of 56.40% and a return on equity of 18.29%. The firm had revenue of $162.12 million for the quarter, compared to the consensus estimate of $138.49 million. In the same quarter last year, the firm posted EPS of $0.95. The company’s quarterly revenue was up 13.6% year over year. As a group, research analysts expect NMI Holdings, Inc. to record 4.5 EPS for the current fiscal year.

Insider buying and selling

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the sale, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this link. In other news, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the transaction, the director now owns 61,607 shares in the company, valued at approximately $2,424,235.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the transaction, the insider now directly owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The disclosure for this sale can be found here. 2.70% of shares are held by insiders.

Hedge funds influence NMI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd purchased a new stake in shares of NMI in the first quarter worth approximately $507,000. First Eagle Investment Management LLC raised its stake in NMI by 17.6% in the first quarter. First Eagle Investment Management LLC now owns 403,019 shares of the financial services provider’s stock worth $13,034,000 after purchasing an additional 60,200 shares during the last quarter. Leuthold Group LLC bought a new stake in NMI in the first quarter valued at $2,987,000. Norges Bank purchased a new position in shares of NMI in the 4th quarter valued at $20,006,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of NMI in the first quarter worth approximately $532,000. 94.12% of shares are currently owned by institutional investors.

About NMI

(Get a free report)

NMI Holdings, Inc provides private mortgage insurance services in the United States. The company offers mortgage insurance services such as primary insurance and pool insurance; and outsourced loan review services to mortgage originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, Internet lenders and other non-bank lenders.