On Jan. 06, Shuster Bradley M divested U.S. $884,798 in shares of NMI Holdings Inc.. The Exec COB sold 36,628 shares at a price per share of $24.16. The transaction decreased this specific insider’s holdings to 634,022 shares worth around $15.3 million at present.
Citigroup launched its NMI Holdings Inc. [NMIH] rating to the equivalent of a Buy and assigned the price target of $24, in a research note dated August 14, 2020. That figure represents around a -0.54% premium from where the company’s shares closed on Friday. Some new analysts also started their coverage, with Citigroup’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in mid August. Meanwhile, JP Morgan had raised its rating on NMIH to “an Overweight” from the earlier “Neutral”, in a research note produced for clients July 15, 2020. In addition, there was a downgrade from Keefe Bruyette on June 09, 2020. The rater changed NMIH from “an Outperform” to “a Mkt perform”.
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Is NMI Holdings Inc. [NASDAQ:NMIH] a Good Buy Right Now?
It should be noted that NMIH technical indicators for short, intermediate as well as long term progress have placed an overall average of 96% as Buy. The average signal changed from 64% Buy in the last week and compares with 100% Buy in the past month. Data from NMI Holdings Inc.’s Trend Spotter indicated that the signals were Bearish. The stock current average is 0.6 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.63 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.71 million shares.
NMIH Price Performance
On Wall Street, NMI Holdings Inc. [NASDAQ:NMIH] finished Friday’s session down -0.66% at $24.13. The stock went up to $24.44 at the same session while its lowest single day price was $23.52. In the last five days, it saw a rise of about 6.53%, NMI Holdings Inc. shares gained by almost 6.53% since the beginning of the year. However, the share price has dropped to as low as -32.33% below its one year high. On 01/07/21, the company shares recorded $24.47, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $21.55. The company’s shares have declined by -24.83% in the past year. The 50-day SMA achieved is $22.98 while the 200-day SMA is $17.84. Volume gained to 0.75 million from 0.6 million in the previous session.
NMI Holdings Inc. [NMIH] Valuation Measures
Notably, NMI Holdings Inc. [NMIH] stock can be classified as a good candidate in the listing of underestimated low-priced Insurance – Property & Casualty companies to purchase soonest possible with the prevailing 12-month PE ratio of 10.27. The measure means the stock is exchanging at a discount as compared to the 13.32x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 4.79 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.08 which means NMIH serve an attractive investment opportunity compared to its competitors.
NMIH Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 23.62 level, and in case of violation of this particular level, it will cause more drop to 23.11 level. On the upper level, 24.95 is still the key resistance. The stock may increase to the subsequent resistance at 24.54. The Relative Strength Index (RSI) pinned on the 14-day chart is 58.67, implying a neutral technical stance while the MACD stands at 0.99, meaning price will decrease in the next trading period. Percent R indicator moved to 11.64%, implying bullish price movement. Stochastic %K at 77.20% suggest holding the stock.
What is the short interest in NMI Holdings Inc.?
Short interest in the NMI Holdings Inc. stock has plunged, decreasing by -0.33 million shares to total 3.27 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.94 million, data from Yahoo Finance shows. The increase of 10.09% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.45% of the overall float for the stock.
NMI Holdings Inc.’s Biggest Shareholders: Who Owns NMI Holdings Inc. [NMIH]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 11,228,106 shares or roughly 13.24% of the outstanding NMIH shares. This means their shares have increased by 416,306 from the 11,228,106 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $133,344,413. Details in the latest 13F filings reveal that Oaktree Capital Management LP acquired their 10.57% stake valued at $106,592,150 while PRIMECAP Management Co. added theirs at $99,415,771. During the last quarter, Oaktree Capital Management LP raised 465,000 of its shares in NMI Holdings Inc. while PRIMECAP Management Co. bought 41,512 shares. The Fidelity Management & Research Co’s holdings currently number 3,099,001 shares at $74778894.13. According to the firm’s last 13F report, Goldman Sachs & Co. LLC shares in the company at filing stood at 2,940,391 shares, roughly $64,423,967.
NMIH Earnings Forecast For The Current Quarter
NMI Holdings Inc. [NMIH] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $104.31M and an earnings per share of $0.47 for Dec 2020. Looking further ahead, the company is expected to report revenue of $107.16M at an EPS of $0.54 for Mar 2021. The estimates represent upside of 13.00% and 11.30% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
NMIH Earnings Estimates For The Current Year
For the financial year, NMI Holdings Inc. [NASDAQ:NMIH] is expected to bring in revenue of $405.27M. The returns are nearly $60.26 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.06, lower than that of FY19 by -$0.56. Estimates put this year’s earnings growth at -21.40%, 11.20% for the next, and at an annual -6.86% over the next 5-year period. As for sales, forecasts are for an increase of 17.50% in the current fiscal year and a further 13.00% over the following year.
What are analyst thoughts on NMI Holdings Inc.?
Looking forward to the NMI Holdings Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for NMI Holdings Inc. stock at $27.00 within the next 12 months, which represents almost 10.63 per cent growth from its previous closing price of $24.13. The highest analysts’ target for NMI Holdings Inc. stock projections is $32.00 and the lowest one is $24.00. Still, 13 analysts sharing their consensus rating for NMIH stock in 2021 agree that it is a Buy.