MGIC Investment Corporation (NYSE: MTG)’s stock price has decreased by -3.75 compared to its previous closing price of 12.81. Despite this, the company has seen a fall of -4.42% in its stock price over the last five trading days. 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?
The price-to-earnings ratio for MGIC Investment Corporation (NYSE: MTG) is 4.58x, which is above its average ratio. Moreover, the 36-month beta value for MTG is 1.35.
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The average price recommended by analysts for MGIC Investment Corporation (MTG) is $16.19, which is $3.86 above the current market price. The public float for MTG is 285.32M and currently, short sellers hold a 3.76% of that float. On March 17, 2023, MTG’s average trading volume was 2.92M shares.
MTG’s Market Performance
The stock of MGIC Investment Corporation (MTG) has seen a -4.42% decrease in the past week, with a -13.05% drop in the past month, and a -6.09% fall in the past quarter. The volatility ratio for the week is 4.62%, and the volatility levels for the past 30 days are at 2.69% for MTG. The simple moving average for the last 20 days is -8.67% for MTG stock, with a simple moving average of -8.73% for the last 200 days.
Analysts’ Opinion of MTG
Many brokerage firms have already submitted their reports for MTG stocks, with Barclays repeating the rating for MTG by listing it as a “Equal Weight.” The predicted price for MTG in the upcoming period, according to Barclays is $14 based on the research report published on January 06th of the current year 2023.
Compass Point, on the other hand, stated in their research note that they expect to see MTG reach a price target of $14.50, previously predicting the price at $19. The rating they have provided for MTG stocks is “Neutral” according to the report published on November 09th, 2022.
BofA Securities gave a rating of “Buy” to MTG, setting the target price at $18 in the report published on August 18th of the previous year.
MTG Trading at -9.42% 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 -21.76% of loss for the given period.
Volatility was left at 2.69%, however, over the last 30 days, the volatility rate increased by 4.62%, as shares sank -12.46% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.73% lower at present.
During the last 5 trading sessions, MTG fell by -4.92%, which changed the moving average for the period of 200-days by -11.95% in comparison to the 20-day moving average, which settled at $13.41. In addition, MGIC Investment Corporation saw -5.15% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at MTG starting from Poliner Gary A., who sale 8,296 shares at the price of $13.92 back on Feb 27. After this action, Poliner Gary A. now owns 8,821 shares of MGIC Investment Corporation, valued at $115,480 using the latest closing price.
Stock Fundamentals for MTG
Current profitability levels for the company are sitting at:
- +100.47 for the present operating margin
The net margin for MGIC Investment Corporation stands at +73.79. Equity return is now at value 18.80, with 13.40 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.66.
To wrap up, the performance of MGIC Investment Corporation (MTG) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.