MGIC Investment Corporation (NYSE:MTG) saw an upside of 0.17% to $18.08 after adding $0.03 on Wednesday. The 5-day average trading volume is 2,127,817 shares of the company’s common stock. It has gained $18.25 in the past week and touched a new high 3 times within the past 5 days. An average of 1,879,759 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,094,992.
MTG’s 1-month performance is 14.00% or $2.53 on its low of $15.53 reached on 07/10/23. The company’s shares have touched a 52-week low of $12.13 and high of $18.25, with the stock’s rally to the 52-week high happening on 08/07/23. YTD, MTG has achieved 39.08% or $5.11 and has reached a new high 34 times. However, the current price is down -0.93% from the 52-week high price.
Insider Transactions
MTG stock investors last saw insider trading activity on Feb 27.Poliner Gary A. (Director) most recently sold 8,296 shares at $13.92 per share on Feb 27. This transaction cost the insider $115,480.
Valuation Metrics
MTG stock has a beta of 1.29. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.38 while the price-to-book (PB) in the most recent quarter is 1.07, with the price to cash flow ratio at 9.70.
Earnings Surprise
Net income shrunk -30.47% to $191.05 million, while revenue of $154.55 million was 19.1% off the previous quarter. Shareholders hold equity totaling $282.32 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 08 August was 88.00% to suggest the stock is trending Overbought, with historical volatility in this time period at 21.77%.
The stock’s 5-day moving average is $17.98, reflecting a +7.19% or $1.22 change from its current price. MTG is currently trading +12.66% above its 20-day SMA, +41.41% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +19.73% and SMA200 by+45.97%.
Stochastic %K and %D was 90.49% and 90.20% and the average true range (ATR) pointed at 0.34. The RSI (14) points at 82.66%, while the 14-day stochastic is at 92.17% with the period’s ATR at 0.32. The stock’s 9-day MACD Oscillator is pointing at 0.62 and 0.88 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for MGIC Investment Corporation (NYSE: MTG), RBC Capital Mkts downgraded it to a Sector perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for MTG stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MTG as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 5 have offered a “buy” rating.
What is MTG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $17.50 and a high of $21.00, with their median price target at $19.00. Looking at these predictions, the average price target given by analysts is for MGIC Investment Corporation (MTG) stock is $19.07.
