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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.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy 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 B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of NMI Holdings has seen some interesting price action recently; the stock is up 1% over the past one week and up 1.6% over the past four weeks. And in the last one-year period, NMIH has gained 29.7%. As for the stock's trading volume, 437,709.75 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 $4.25 per share. NMIH boasts an average earnings surprise of 8.6%.

NMIH should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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NMI Holdings Inc (NMIH): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research