NMI Holdings Inc. (NMIH) Rating Increased to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of NMI Holdings Inc. (NASDAQ:NMIH) from a hold rating to a strong-buy rating in a report published on Thursday morning. Zacks Investment Research currently has $10.00 price target on the stock.
According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “
NMIH has been the subject of several other reports. BTIG Research restated a buy rating and set a $10.00 target price on shares of NMI Holdings in a research report on Tuesday, October 25th. FBR & Co reiterated an outperform rating on shares of NMI Holdings in a report on Friday, September 23rd. TheStreet upgraded NMI Holdings from a sell rating to a hold rating in a report on Friday, August 12th. Finally, Keefe, Bruyette & Woods set a $8.50 price objective on NMI Holdings and gave the company a buy rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NMI Holdings presently has an average rating of Buy and a consensus price target of $10.20.
NMI Holdings (NASDAQ:NMIH) opened at 8.70 on Thursday. The firm’s 50-day moving average price is $8.33 and its 200 day moving average price is $7.06. NMI Holdings has a one year low of $4.19 and a one year high of $9.10. The firm’s market cap is $514.50 million.
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A number of large investors have recently added to or reduced their stakes in NMIH. Virginia Retirement Systems ET AL purchased a new stake in NMI Holdings during the second quarter valued at approximately $100,000. Fox Run Management L.L.C. purchased a new stake in NMI Holdings during the third quarter valued at approximately $107,000. Dynamic Technology Lab Private Ltd boosted its stake in NMI Holdings by 72.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 21,900 shares of the company’s stock valued at $120,000 after buying an additional 9,209 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in NMI Holdings during the second quarter valued at approximately $122,000. Finally, Wells Fargo & Company MN boosted its stake in NMI Holdings by 28.0% in the third quarter. Wells Fargo & Company MN now owns 17,371 shares of the company’s stock valued at $132,000 after buying an additional 3,799 shares during the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.
About NMI Holdings
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance (MI) through its insurance subsidiaries. The Company’s insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is an MI provider on loans purchased by Fannie Mae and Freddie Mac (collectively the Government-sponsored enterprises(GSEs)).
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