MGIC Investment Corporation (MTG) : 6 analysts are covering MGIC Investment Corporation (MTG) and their average rating on the stock is 1.83, which is read as a Buy. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. MGIC Investment Corporation (MTG) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
MGIC Investment Corporation (MTG) has been rated by 4 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $10 and the lowest price target forecast is $9. The average forecast of all the analysts is $9.25 and the expected standard deviation is $0.5.
For the current week, the company shares have a recommendation consensus of Buy. MGIC Investment Corporation (NYSE:MTG): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.27 and $7.27 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.31, notching a gain of 0.69% for the day. The total traded volume was 2,613,465 . The stock had closed at $7.26 on the previous day.
In a related news, Carr Cassandra C, director of Mgic Investment Corp, executed a transaction worth $31,750 on February 9, 2016. A total of 5,000 shares were purchased at an average price of $6.35. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the Company provides private mortgage insurance and ancillary services. The Companys 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.