MGIC Investment Corporation [MTG] Revenue clocked in at $1.19 billion, up 9.56% YTD: What’s Next?

MGIC Investment Corporation [NYSE: MTG] jumped around 0.1 points on Monday, while shares priced at $13.75 at the close of the session, up 0.73%. The company report on July 9, 2021 that MGIC Investment Corporation Schedules 2nd Quarter 2021 Earnings Call and Releases Monthly Operating Statistics.

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MGIC Investment Corporation (NYSE: MTG) has announced plans to release its second quarter 2021 financial results after the market closes on Wednesday August 4, 2021. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Thursday August 5, 2021 to discuss the Company’s results for the quarter ended June 30, 2021.

Individuals interested in joining by telephone should dial 1-866-834-4126 ten minutes before the conference call begins. The call is also being webcast and can be accessed via the company’s investor website found at http://mtg.mgic.com under Newsroom. A replay of the webcast will be available on the company’s website through September 5, 2021.

MGIC Investment Corporation stock is now 9.56% up from its year-to-date (YTD) trading value. MTG Stock saw the intraday high of $13.81 and lowest of $13.35 per share. The company’s 52-week high price is 15.68, which means current price is +18.94% above from all time high which was touched on 04/29/21.

Compared to the average trading volume of 2.90M shares, MTG reached a trading volume of 2108226 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about MGIC Investment Corporation [MTG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MTG shares is $16.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MTG stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Keefe Bruyette have made an estimate for MGIC Investment Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 07, 2020. The new note on the price target was released on June 09, 2020, representing the official price target for MGIC Investment Corporation stock. On October 22, 2018, analysts increased their price target for MTG shares from 14.50 to 16.50.

The Average True Range (ATR) for MGIC Investment Corporation is set at 0.36, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 3.83. The Price to Book ratio for the last quarter was 0.98, with the Price to Cash per share for the same quarter was set at 0.55. Price to Free Cash Flow for MTG in the course of the last twelve months was 6.90.

How has MTG stock performed recently?

MGIC Investment Corporation [MTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.20. With this latest performance, MTG shares dropped by -4.38% in over the last four-week period, additionally plugging by 3.70% over the last 6 months – not to mention a rise of 83.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MTG stock in for the last two-week period is set at 45.84, with the RSI for the last a single of trading hit 46.68, and the three-weeks RSI is set at 46.35 for MGIC Investment Corporation [MTG]. The present Moving Average for the last 50 days of trading for this stock 14.25, while it was recorded at 13.65 for the last single week of trading, and 12.73 for the last 200 days.

MGIC Investment Corporation [MTG]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and MGIC Investment Corporation [MTG] shares currently have an operating margin of +53.84. MGIC Investment Corporation’s Net Margin is presently recorded at +37.20.

Return on Total Capital for MTG is now 11.65, given the latest momentum, and Return on Invested Capital for the company is 8.05. Return on Equity for this stock inclined to 9.90, with Return on Assets sitting at 6.54. When it comes to the capital structure of this company, MGIC Investment Corporation [MTG] has a Total Debt to Total Equity ratio set at 26.46. Additionally, MTG Total Debt to Total Capital is recorded at 20.92, with Total Debt to Total Assets ending up at 16.90. Long-Term Debt to Equity for the company is recorded at 26.46, with the Long-Term Debt to Total Capital now at 20.92.

Reflecting on the efficiency of the workforce at the company, MGIC Investment Corporation [MTG] managed to generate an average of $603,644 per employee.

Earnings analysis for MGIC Investment Corporation [MTG]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MTG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MGIC Investment Corporation go to 10.79%.

Insider trade positions for MGIC Investment Corporation [MTG]

There are presently around $4,436 million, or 97.10% of MTG stock, in the hands of institutional investors. The top three institutional holders of MTG stocks are: VANGUARD GROUP INC with ownership of 35,376,532, which is approximately 3.38% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 31,354,071 shares of the stock with an approximate value of $431.12 million in MTG stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $392.47 million in MTG stock with ownership of nearly 2.309% of the company’s market capitalization.

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Positions in MGIC Investment Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 132 institutional holders increased their position in MGIC Investment Corporation [NYSE:MTG] by around 25,898,819 shares. Additionally, 177 investors decreased positions by around 35,236,481 shares, while 50 investors held positions by with 261,486,128 shares. The mentioned changes placed institutional holdings at 322,621,428 shares, according to the latest SEC report filing. MTG stock had 43 new institutional investments in for a total of 4,962,229 shares, while 41 institutional investors sold positions of 7,802,833 shares during the same period.

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