The stock of MGIC Investment Corp (MTG) has gone down by -2.91% for the week, with a 0.43% rise in the past month and a 3.97% rise in the past quarter. The volatility ratio for the week is 1.94%, and the volatility levels for the past 30 days are 1.60% for MTG. The simple moving average for the last 20 days is -0.66% for MTG’s stock, with a simple moving average of 15.34% for the last 200 days.
Is It Worth Investing in MGIC Investment Corp (NYSE: MTG) Right Now?
The price-to-earnings ratio for MGIC Investment Corp (NYSE: MTG) is above average at 9.39x. The 36-month beta value for MTG is also noteworthy at 1.27. There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 5 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
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The public float for MTG is 255.33M, and at present, short sellers hold a 3.50% of that float. The average trading volume of MTG on October 24, 2024 was 1.51M shares.
MTG) stock’s latest price update
The stock of MGIC Investment Corp (NYSE: MTG) has increased by 0.08 when compared to last closing price of 25.38.Despite this, the company has seen a loss of -2.91% in its stock price over the last five trading days. zacks.com reported 2024-10-11 that MGIC (MTG) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company’s earnings prospects. This might drive the stock higher in the near term.
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 0.97% 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 -4.24% of loss for the given period.
Volatility was left at 1.60%, however, over the last 30 days, the volatility rate increased by 1.94%, as shares surge +1.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.15% upper at present.
During the last 5 trading sessions, MTG fell by -2.91%, which changed the moving average for the period of 200-days by +30.26% in comparison to the 20-day moving average, which settled at $25.57. In addition, MGIC Investment Corp saw 31.67% 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 5.88. 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
In summary, MGIC Investment Corp (MTG) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing 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.
