NMI (NASDAQ:NMIH) Stock Price Down 3.9% - Here's Why

NMI Holdings, Inc. (NASDAQ:NMIH - Get Free Report)'s stock price was down 3.9% during mid-day trading on Friday . The company traded as low as $37.15 and last traded at $37.17. Approximately 44,893 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 526,591 shares. The stock had previously closed at $38.68.

Wall Street Analyst Weigh In

NMIH has been the topic of a number of research analyst reports. Barclays raised their price target on NMI from $43.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of NMI from $37.00 to $40.00 and gave the company a "market perform" rating in a report on Thursday, August 1st. Royal Bank of Canada raised shares of NMI from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $40.00 to $48.00 in a research report on Wednesday, September 18th. Truist Financial boosted their price objective 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, StockNews.com cut NMI from a "buy" rating to a "hold" rating in a report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, NMI currently has an average rating of "Moderate Buy" and a consensus target price of $43.43.

NMI Trading Down 4.9 %

The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 0.89 and a beta of 1.12. 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 business has a 50-day moving average of $40.53 and a 200-day moving average of $36.48.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.15. NMI had a return on equity of 18.29% and a net margin of 56.40%. The company had revenue of $162.12 million for the quarter, compared to analysts' expectations of $138.49 million. During the same quarter in the prior year, the business posted $0.95 EPS. The business's revenue was up 13.6% compared to the same quarter last year. Research analysts anticipate that NMI Holdings, Inc. will post 4.5 EPS for the current year.

Insiders Place Their Bets

In other news, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction dated 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 transaction, the insider now owns 153,689 shares of the company's stock, valued at $6,158,318.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. raised its stake in NMI by 5.3% in the 3rd quarter. Assetmark Inc. now owns 78,168 shares of the financial services provider's stock valued at $3,220,000 after acquiring an additional 3,938 shares during the period. CWA Asset Management Group LLC bought a new position in shares of NMI in the third quarter valued at about $820,000. Farther Finance Advisors LLC raised its position in shares of NMI by 989.9% in the third quarter. Farther Finance Advisors LLC now owns 3,248 shares of the financial services provider's stock valued at $134,000 after purchasing an additional 2,950 shares during the period. Donald Smith & CO. Inc. lifted its stake in shares of NMI by 11.1% during the 3rd quarter. Donald Smith & CO. Inc. now owns 969,872 shares of the financial services provider's stock worth $39,949,000 after buying an additional 97,125 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of NMI by 38.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,942,428 shares of the financial services provider's stock worth $80,009,000 after buying an additional 534,818 shares during the period. 94.12% of the stock is currently owned by institutional investors.

NMI Company Profile

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.