NMI Holdings, Inc. (NASDAQ:NMIH) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of NMI Holdings, Inc. (NASDAQ:NMIH - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $43.29.

NMIH has been the subject of several research analyst reports. Barclays boosted their price target on shares of NMI from $43.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Royal Bank of Canada dropped their target price on shares of NMI from $48.00 to $47.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. StockNews.com cut shares of NMI from a "buy" rating to a "hold" rating in a report on Wednesday, August 21st. Truist Financial upped their price target on shares of NMI from $37.00 to $47.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their target price 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.

NMI Trading Up 3.4 %

NMIH stock traded up $1.33 during trading on Monday, hitting $40.06. The company had a trading volume of 181,364 shares, compared to its average volume of 529,398. The firm has a 50-day moving average price of $39.69 and a 200-day moving average price of $37.30. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. NMI has a 12 month low of $27.00 and a 12 month high of $42.49. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 0.95 and a beta of 1.13.

Insider Activity at NMI

In other news, insider William J. Leatherberry sold 3,000 shares of the firm's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company's stock, valued at approximately $6,158,318.23. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On NMI

Several large investors have recently modified their holdings of NMIH. Opal Wealth Advisors LLC acquired a new stake in shares of NMI during the second quarter worth $29,000. Quarry LP raised its position in NMI by 135.1% in the second quarter. Quarry LP now owns 858 shares of the financial services provider's stock worth $29,000 after acquiring an additional 493 shares during the period. GAMMA Investing LLC raised its position in shares of NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 265 shares during the period. USA Financial Formulas bought a new stake in shares of NMI in the third quarter valued at approximately $57,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of NMI in the second quarter valued at approximately $63,000. Institutional investors own 94.12% of the company's stock.

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.