The stock price of MGIC Investment Corp (NYSE: MTG) has surged by 0.89 when compared to previous closing price of 24.85, but the company has seen a 0.20% gain in its stock price over the last five trading sessions. zacks.com reported 2024-09-05 that Better pricing, product redesigns, technological advancement, and improving inflation are expected to aid multiline insurers like MET, AIG, PRU, AIZ and MTG.
Is It Worth Investing in MGIC Investment Corp (NYSE: MTG) Right Now?
MGIC Investment Corp (NYSE: MTG) has a price-to-earnings ratio that is above its average at 9.27x. The stock has a 36-month beta value of 1.27. Opinions on the stock are mixed, with 5 analysts rating it as a “buy,” 5 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for MTG is 255.44M, and at present, short sellers hold a 3.71% of that float. On September 11, 2024, the average trading volume of MTG was 1.58M shares.
MTG’s Market Performance
MTG stock saw an increase of 0.20% in the past week, with a monthly gain of 5.38% and a quarterly increase of 20.53%. The volatility ratio for the week is 2.23%, and the volatility levels for the last 30 days are 1.82% for MGIC Investment Corp (MTG). The simple moving average for the last 20 days is 2.35% for MTG stock, with a simple moving average of 19.87% for the last 200 days.
Analysts’ Opinion of MTG
Many brokerage firms have already submitted their reports for MTG stocks, with Keefe Bruyette repeating the rating for MTG by listing it as a “Outperform.” The predicted price for MTG in the upcoming period, according to Keefe Bruyette is $25 based on the research report published on June 03, 2024 of the current year 2024.
Keefe Bruyette, on the other hand, stated in their research note that they expect to see MTG reach a price target of $24, previously predicting the price at $23.50. The rating they have provided for MTG stocks is “Mkt Perform” according to the report published on April 04th, 2024.
UBS gave a rating of “Neutral” to MTG, setting the target price at $18.50 in the report published on December 06th of the previous year.
MTG Trading at 5.85% 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 -3.32% of loss for the given period.
Volatility was left at 1.82%, however, over the last 30 days, the volatility rate increased by 2.23%, as shares surge +8.58% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +16.33% upper at present.
During the last 5 trading sessions, MTG rose by +0.20%, which changed the moving average for the period of 200-days by +44.33% in comparison to the 20-day moving average, which settled at $24.59. In addition, MGIC Investment Corp saw 29.96% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MTG starting from CULVER CURT S, who proposed sale 150,000 shares at the price of $24.51 back on Aug 02 ’24. After this action, CULVER CURT S now owns shares of MGIC Investment Corp, valued at $3,676,500 using the latest closing price.
Stock Fundamentals for MTG
Current profitability levels for the company are sitting at:
- 0.81 for the present operating margin
- 0.82 for the gross margin
The net margin for MGIC Investment Corp stands at 0.63. The total capital return value is set at 0.16. Equity return is now at value 14.97, with 11.65 for asset returns.
Based on MGIC Investment Corp (MTG), the company’s capital structure generated 0.11 points at debt to capital in total, while cash flow to debt ratio is standing at 1.11. The debt to equity ratio resting at 0.13. The interest coverage ratio of the stock is 26.75.
Currently, EBITDA for the company is 902.23 million with net debt to EBITDA at 0.8. When we switch over and look at the enterprise to sales, we see a ratio of 5.81. The receivables turnover for the company is 11.82for trailing twelve months and the total asset turnover is 0.18. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.98.
Conclusion
To sum up, MGIC Investment Corp (MTG) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
