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Is MGIC Investment Corporation (MTG) a Keeper?

MGIC Investment Corporation (NYSE:MTG) went down by -0.92% from its latest closing price compared to the recent 1-year high of $16.84. The company’s stock price has collected 2.78% of gains in the last five trading sessions. Barron’s reported on 06/28/21 that The Housing Market Is Still Hot. That’s Good News for These Three Mortgage Insurers.

Is It Worth Investing in MGIC Investment Corporation (NYSE :MTG) Right Now?

MGIC Investment Corporation (NYSE:MTG) scored a price-to-earnings ratio above its average ratio, recording 7.14 x from its present earnings ratio. Plus, the 36-month beta value for MTG is at 1.47. Opinions of the stock are interesting as 5 analysts out of 9 who provided ratings for MGIC Investment Corporation declared the stock was a “buy,” while 1 rated the stock as “overweight,” 3 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $17.94, which is $3.91 above the current price. MTG currently public float of 304.71M and currently shorts hold a 6.91% ratio of that float. Today, the average trading volume of MTG was 2.81M shares.

MTG’s Market Performance

MTG stocks went up by 2.78% for the week, with a monthly jump of 9.52% and a quarterly performance of 6.77%, while its annual performance rate touched 2.26%. The volatility ratio for the week stands at 2.35% while the volatility levels for the past 30 days are set at 2.44% for MGIC Investment Corporation. The simple moving average for the period of the last 20 days is 4.62% for MTG stocks with a simple moving average of -1.69% for the last 200 days.

Analysts’ Opinion of MTG

Many brokerage firms have already submitted their reports for MTG stocks, with RBC Capital Mkts repeating the rating for MTG by listing it as a “Outperform.” The predicted price for MTG in the upcoming period, according to RBC Capital Mkts is $16 based on the research report published on June 23rd of the current year 2022.

BofA Securities, on the other hand, stated in their research note that they expect to see MTG reach a price target of $16.50, previously predicting the price at $16. The rating they have provided for MTG stocks is “Neutral” according to the report published on November 17th, 2021.

Keefe Bruyette gave a rating of “Outperform” to MTG, setting the target price at $13 in the report published on October 07th of the previous year.

MTG Trading at 6.50% from the 50-Day Moving Average

After a stumble in the market that brought MTG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -16.71% of loss for the given period.

Volatility was left at 2.44%, however, over the last 30 days, the volatility rate increased by 2.35%, as shares surge +10.82% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.25% upper at present.

During the last 5 trading sessions, MTG rose by +2.78%, which changed the moving average for the period of 200-days by -14.45% in comparison to the 20-day moving average, which settled at $13.48. In addition, MGIC Investment Corporation saw -2.70% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at MTG starting from Arrigoni Daniel A., who purchase 5,000 shares at the price of $14.19 back on Dec 02. After this action, Arrigoni Daniel A. now owns 30,000 shares of MGIC Investment Corporation, valued at $70,950 using the latest closing price.

Stock Fundamentals for MTG

Current profitability levels for the company are sitting at:

  • +76.75 for the present operating margin

The net margin for MGIC Investment Corporation stands at +53.55. Equity return is now at value 13.70, with 9.00 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 0.92.

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