MGIC Investment Corporation (MTG): What Technical Indicators Show

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MGIC Investment Corporation (NYSE:MTG) saw an upside of 0.08% to close Tuesday at $12.94 after adding $0.01 on the day. The 5-day average trading volume is 2,875,980 shares of the company’s common stock. It has gained $13.14 in the past week and touched a new high 2 times within the past 5 days. An average of 3,094,130 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,206,940.

MTG’s 1-month performance is -4.78% or -$0.65 on its low of $12.57 reached on 12/19/22. The company’s shares have touched a 52-week low of $11.38 and high of $16.84, with the stock’s rally to the 52-week high happening on 01/13/22. YTD, MTG has lost -10.26% or -$1.48 and has reached a new high 9 times. However, the current price is down -23.18% from the 52-week high price.


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Valuation Metrics

MTG stock has a beta of 1.36. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.25 while the price-to-book (PB) in the most recent quarter is 0.86, with the price to cash flow ratio at 6.87.

As well, the company’s long term debt to equity for the quarter ending June 29 was 0.15, while the total debt to equity was 0.15.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income grew 38.69% to $249.63 million, while revenue of $249.27 million was 0.14% off the previous quarter. Analysts expected MTG to announce $0.5 per share in earnings in its latest quarter, but it posted $0.82, representing a 64.00% surprise. Shareholders hold equity totaling $297.03 million.

Let’s look briefly at MGIC Investment Corporation (MTG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 27 December was 47.07% to suggest the stock is trending Neutral, with historical volatility in this time period at 24.83%.

The stock’s 5-day moving average is $12.90, reflecting a +2.21% or $0.28 change from its current price. MTG is currently trading -3.43% above its 20-day SMA, -10.88% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +3.52% and SMA200 by-6.64%.

Stochastic %K and %D was 36.33% and 36.22% and the average true range (ATR) pointed at 0.30. The RSI (14) points at 46.37%, while the 14-day stochastic is at 37.00% with the period’s ATR at 0.32. The stock’s 9-day MACD Oscillator is pointing at 0.02 and -0.06 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for MGIC Investment Corporation (NYSE: MTG), Compass Point downgraded it to a Neutral rating. They previously had a Buy rating on the stock.

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