MGIC Investment Corporation (MTG) : Traders are bullish on MGIC Investment Corporation (MTG) as it has outperformed the S&P 500 by a wide margin of 13.29% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.1%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.06% in the last 1 week, and is up 13.73% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
MGIC Investment Corp. is up 17.29% in the last 3-month period. Year-to-Date the stock performance stands at -10.87%. The stock has recorded a 20-day Moving Average of 6.8% and the 50-Day Moving Average is 18.63%.
MGIC Investment Corporation (NYSE:MTG): The stock was completely flat for the day, closing at $7.87 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $7.85, the stock touched an intraday high of $7.90 and a low of $7.80. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $7.87. The total trading volume on Friday was 4,140,777.
Also, Compass Point upgrades its view on MGIC Investment Corporation (NYSE:MTG) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Earlier, the shares had a rating of Neutral. The rating by the firm was issued on July 20, 2016.
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.