Limestone Value Partners buys $6.1 Million stake in MGIC Investment Corp. (MTG)

MGIC Investment Corp. (MTG) : Limestone Value Partners scooped up 325,000 additional shares in MGIC Investment Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 947,697 shares of MGIC Investment Corp. which is valued at $6.1 Million.MGIC Investment Corp. makes up approximately 9.61% of Limestone Value Partners’s portfolio.

Other Hedge Funds, Including , Great Lakes Advisors sold out all of its stake in MTG during the most recent quarter. The investment firm sold 142,285 shares of MTG which is valued $920,584.Tealwood Asset Management Inc boosted its stake in MTG in the latest quarter, The investment management firm added 9,095 additional shares and now holds a total of 326,766 shares of MGIC Investment Corp. which is valued at $2.1 Million. MGIC Investment Corp. makes up approx 0.95% of Tealwood Asset Management Inc’s portfolio.Teachers Advisors Inc reduced its stake in MTG by selling 833,786 shares or 30.26% in the most recent quarter. The Hedge Fund company now holds 1,921,541 shares of MTG which is valued at $12.9 Million. MGIC Investment Corp. makes up approx 0.02% of Teachers Advisors Inc’s portfolio. Dupont Capital Management Corp sold out all of its stake in MTG during the most recent quarter. The investment firm sold 100,200 shares of MTG which is valued $724,446.

MGIC Investment Corp. closed down -0.03 points or -0.46% at $6.44 with 43,95,478 shares getting traded on Monday. Post opening the session at $6.48, the shares hit an intraday low of $6.43 and an intraday high of $6.575 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, MGIC Investment Corp. reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Apr 19, 2016. Analyst had a consensus of $0.22. The company had revenue of $258.60 million for the quarter, compared to analysts expectations of $258.57 million. The company’s revenue was down -4.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on MGIC Investment Corp.. Shares were Reiterated by Compass Point on May 10, 2016 to “Neutral” and Lowered the Price Target to $ 8.50 from a previous price target of $9 .Shares were Downgraded by Compass Point on Apr 20, 2016 to ” Neutral” and Lowered the Price Target to $ 9 from a previous price target of $10 .Deutsche Bank Initiated MGIC Investment Corp. on Apr 5, 2016 to “Hold”, Price Target of the shares are set at $9.

MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries the Company provides private mortgage insurance and ancillary services. The Company’s subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC). The Company provides mortgage insurance to lenders throughout the United States and to Government sponsored entities to protect against loss from defaults on low down payment residential mortgage loans. Its principal product is primary mortgage insurance. Primary insurance provides mortgage default protection on individual loans and covers unpaid loan principal delinquent interest and certain expenses associated with the default and subsequent foreclosure or sale approved by the Company. Through certain other non-insurance subsidiaries it also provides various services for the mortgage finance industry such as contract underwriting and portfolio analysis and retention.

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