Price Target Update on MGIC Investment Corporation (NYSE:MTG)

MGIC Investment Corporation (NYSE: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 $8. The average forecast of all the analysts is $8.75 and the expected standard deviation is $1.04.

Other Equity analysts have also commented on the company shares. Credit Suisse maintains its rating on MGIC Investment Corporation (NYSE:MTG). The global brokerage major lowers the current price target from $10 per share to $8 per share. Analysts at the Credit Suisse have a current rating of Neutral on the shares. The rating by the firm was issued on May 2, 2016.

MGIC Investment Corporation (NYSE:MTG): stock turned positive on Thursday. Though the stock opened at $6.3, the bulls momentum made the stock top out at $6.38 level for the day. The stock recorded a low of $6.27 and closed the trading day at $6.33, in the green by 2.43%. The total traded volume for the day was 6,015,191. The stock had closed at $6.18 in the previous days trading.

The company shares have dropped -45.93% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $11.72 and the one year low was seen on Jan 25, 2016. The 50-Day Moving Average price is $6.60 and the 200 Day Moving Average price is recorded at $7.30. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Mgic Investment Corp, Carr Cassandra C, had purchased 5,000 shares in a transaction dated on February 9, 2016. The transaction was executed at $6.35 per share with total amount equaling $31,750.

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.

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