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Here's Why NMI Holdings (NMIH) is a Strong Momentum Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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NMI Holdings (NMIH)

Headquartered in Emeryville, CA, NMI Holdings was incorporated in May 2011 and began start-up operations in 2012. NMI Holdings wrote its first MI policy in 2013.

NMIH boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Shares of NMI Holdings has seen some interesting price action recently; the stock is down 1.6% over the past one week and up 7.5% over the past four weeks. And in the last one-year period, NMIH has gained 34.5%. As for the stock's trading volume, 564,374.38 shares on average were traded over the last 20 days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.20 to $4.24 per share. NMIH boasts an average earnings surprise of 8.6%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding NMIH to their portfolios.

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NMI Holdings Inc (NMIH) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research