Are we looking at the next big move in MGIC Investment Corp (MTG)?

MGIC Investment Corp (NYSE: MTG) is 49.69% higher on its value in year-to-date trading and has touched a low of $12.15 and a high of $19.64 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MTG stock was last observed hovering at around $19.38 in the last trading session, with the day’s gains setting it 0.08% off its average median price target of $19.50 for the next 12 months. It is also 11.55% off the consensus price target high of $22.00 offered by 9 analysts, but current levels are -8.11% lower than the price target low of $18.00 for the same period.

Currently trading at $19.46, the stock is 6.81% and 10.38% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.07 million and changing 0.41% at the moment leaves the stock 20.63% off its SMA200. MTG registered 48.55% gain for a year compared to 6-month gain of 28.70%. The firm has a 50-day simple moving average (SMA 50) of $4.96.

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The stock witnessed a 10.82% loss in the last 1 month and extending the period to 3 months gives it a 14.74%, and is 2.64% up 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 1.91% over the week and 1.77% over the month.

MGIC Investment Corp (MTG) has around 683 employees, a market worth around $5.40B and $1.16B in sales. Current P/E ratio is 7.89 and Fwd P/E is 8.24. Profit margin for the company is 61.88%. Distance from 52-week low is 60.10% and -0.89% from its 52-week high. The company has generated returns on investments over the last 12 months (13.09%).

MGIC Investment Corp (MTG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for MGIC Investment Corp (MTG) is a “Overweight”. 9 analysts offering their recommendations for the stock have an average rating of 1.89, where 4 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

MGIC Investment Corp is expected to release its quarterly report on 01/31/2024.The EPS is expected to shrink by -16.76% this year.

MGIC Investment Corp (MTG) Top Institutional Holders

The shares outstanding are 293.43M, and float is at 274.47M with Short Float at 3.42%.

MGIC Investment Corp (MTG) Insider Activity

A total of 20 insider transactions have happened at MGIC Investment Corp (MTG) in the last six months, with sales accounting for 1 and purchases happening 19 times. The most recent transaction is an insider sale by Poliner Gary A.,the company’sDirector. SEC filings show that Poliner Gary A. sold 8,296 shares of the company’s common stock on Feb 27 at a price of $13.92 per share for a total of $0.12 million. Following the sale, the insider now owns 8821.0 shares.

MGIC Investment Corp (MTG): Who are the competitors?

The company’s main competitors (and peers) include Rocket Cos. Inc. (RKT) that is trading 102.06% up over the past 12 months. UWM Holdings Corp. (UWMC) that is 100.00% higher over the same period.