Graybill Bartz Assoc Ltd buys $2.7 Million stake in MGIC Investment Corp. (MTG)

MGIC Investment Corp. (MTG) : Graybill Bartz Assoc Ltd scooped up 800 additional shares in MGIC Investment Corp. during the most recent quarter end , according to a recent disclosure to the SEC on Apr 5, 2016. The investment management firm now holds a total of 380,290 shares of MGIC Investment Corp. which is valued at $2.7 Million.MGIC Investment Corp. makes up approximately 2.50% of Graybill Bartz Assoc Ltd’s portfolio.

On the company’s financial health, MGIC Investment Corp. reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jan 21, 2016. Analyst had a consensus of $0.30. The company had revenue of $257.90 million for the quarter, compared to analysts expectations of $258.10 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on MGIC Investment Corp.. Deutsche Bank Initiated MGIC Investment Corp. on Apr 5, 2016 to “Hold”, Price Target of the shares are set at $9.Shares were Reiterated by FBR Capital on Jan 22, 2016 to “Mkt Perform” and Lowered the Price Target to $ 7 from a previous price target of $11 .Shares were Reiterated by MKM Partners on Jan 21, 2016 to “Buy” and Lowered the Price Target to $ 10 from a previous price target of $13 .

MGIC Investment Corp. closed down -0.19 points or -2.58% at $7.17 with 49,03,043 shares getting traded on Monday. Post opening the session at $7.38, the shares hit an intraday low of $7.12 and an intraday high of $7.415 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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