MGIC Investment Corporation (NYSE: MTG) is -3.26% lower on its value in year-to-date trading and has touched a low of $11.38 and a high of $16.84 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MTG stock was last observed hovering at around $14.12 in the last trading session, with the day’s loss setting it -0.17% off its average median price target of $18.00 for the next 12 months. It is also 39.35% off the consensus price target high of $23.00 offered by 9 analysts, but current levels are 17.94% higher than the price target low of $17.00 for the same period.
Currently trading at $13.95, the stock is -2.74% and -2.23% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.92 million and changing -1.20% at the moment leaves the stock -1.02% off its SMA200. MTG registered -4.97% loss for a year compared to 6-month gain of -2.45%.
The stock witnessed a -7.37% loss in the last 1 month and extending the period to 3 months gives it a 19.64%, and is -1.34% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.73% over the week and 2.33% over the month.
MGIC Investment Corporation (MTG) has around 711 employees, a market worth around $4.26B and $1.18B in sales. Current P/E ratio is 6.01 and Fwd P/E is 6.43. Profit margin for the company is 64.20%. Distance from 52-week low is 22.64% and -17.19% from its 52-week high. The company has generated returns on investments over the last 12 months (11.80%).
MGIC Investment Corporation (MTG) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for MGIC Investment Corporation (MTG) is a “Overweight”. 9 analysts offering their recommendations for the stock have an average rating of 1.90, where 2 rate it as a Hold and 1 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
MGIC Investment Corporation is expected to release its quarterly report on 11/02/2022.The EPS is expected to grow by 43.40% this year
MGIC Investment Corporation (MTG) Top Institutional Holders
The shares outstanding are 308.84M, and float is at 298.58M with Short Float at 8.51%.
MGIC Investment Corporation (MTG) Insider Activity
A total of 33 insider transactions have happened at MGIC Investment Corporation (MTG) in the last six months, with sales accounting for 6 and purchases happening 27 times. The most recent transaction is an insider purchase by Arrigoni Daniel A., the company’s Director. SEC filings show that Arrigoni Daniel A. bought 5,000 shares of the company’s common stock on Dec 02 at a price of $14.19 per share for a total of $70950.0. Following the purchase, the insider now owns 30000.0 shares.
MGIC Investment Corporation (MTG): Who are the competitors?
The company’s main competitors (and peers) include Rocket Companies Inc. (RKT) that is trading -52.45% down over the past 12 months and UWM Holdings Corporation (UWMC) that is -46.21% lower over the same period. Walker & Dunlop Inc. (WD) is -14.27% down on the 1-year trading charts.