MGIC Investment Corporation (MTG): Price Target and June Short Interest Disclosure

MGIC Investment Corporation (MTG) : The highest short term price target forecast on MGIC Investment Corporation (MTG) is $10 and the lowest target price is $8. A total of 4 equity analysts are currently covering the company. The average price of all the analysts is $8.75 with a standard deviation of $1.04.

The short interest in MGIC Investment Corporation (MTG) has declined from 21,234,733 on June 15,2016 to 20,990,727 on June 30,2016. The change was measured at 244,006 shares or 1.1%. The leftover shorts were 6.3% of the floated shares. The days to cover are 2, given the average daily volume of 8,405,563 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity Analysts at the Credit Suisse maintains the rating on MGIC Investment Corporation (NYSE:MTG). The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency lowers the price target from $10 per share to $8 per share. The rating by the firm was issued on May 2, 2016.

MGIC

MGIC Investment Corporation (NYSE:MTG): stock turned positive on Thursday. Though the stock opened at $6.33, the bulls momentum made the stock top out at $6.525 level for the day. The stock recorded a low of $6.33 and closed the trading day at $6.42, in the green by 2.56%. The total traded volume for the day was 4,876,087. The stock had closed at $6.26 in the previous days trading.

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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