MGIC Investment Corporation [MTG] is 12.03% higher this YTD. Is it still time to buy?

MGIC Investment Corporation [NYSE: MTG] surged by $0.52 during the normal trading session on Thursday and reaching a high of $14.28 during the day while it closed the day at $14.06. The company report on August 5, 2021 that MGIC Investment Corporation Reports Second Quarter 2021 Results.

Second Quarter 2021 Net Income of $153.1 million or $0.44 per Diluted Share.

Second Quarter 2021 Adjusted Net Operating Income (Non-GAAP) of $151.5 million or $0.44 per Diluted Share.

MGIC Investment Corporation stock has also gained 1.44% of its value over the past 7 days. However, MTG stock has declined by -0.71% in the 3 months of the year. Over the past six months meanwhile, it has gained 14.68% and gained 12.03% year-on date.

The market cap for MTG stock reached $4.78 billion, with 338.90 million shares outstanding and 334.65 million shares in the current float. Compared to the average trading volume of 2.72M shares, MTG reached a trading volume of 2725576 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 0.41, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 4.01. The Price to Book ratio for the last quarter was 1.01, with the Price to Cash per share for the same quarter was set at 0.54. Price to Free Cash Flow for MTG in the course of the last twelve months was 7.23.

MTG stock trade performance evaluation

MGIC Investment Corporation [MTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.44. With this latest performance, MTG shares gained by 2.78% in over the last four-week period, additionally plugging by 14.68% over the last 6 months – not to mention a rise of 66.19% 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 56.07, with the RSI for the last a single of trading hit 60.63, and the three-weeks RSI is set at 53.39 for MGIC Investment Corporation [MTG]. The present Moving Average for the last 50 days of trading for this stock 13.97, while it was recorded at 13.79 for the last single week of trading, and 13.07 for the last 200 days.

MGIC Investment Corporation [MTG]: An insightful look at the core 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 per share (EPS) analysis for MGIC Investment Corporation [MTG] stock

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%.

MGIC Investment Corporation [MTG]: Insider Ownership positions

There are presently around $4,531 million, or 97.20% 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 0.80% of the total institutional ownership; BLACKROCK INC., holding 31,354,071 shares of the stock with an approximate value of $440.84 million in MTG stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $401.32 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 137 institutional holders increased their position in MGIC Investment Corporation [NYSE:MTG] by around 26,261,450 shares. Additionally, 166 investors decreased positions by around 31,363,699 shares, while 54 investors held positions by with 264,653,771 shares. The mentioned changes placed institutional holdings at 322,278,920 shares, according to the latest SEC report filing. MTG stock had 43 new institutional investments in for a total of 5,339,918 shares, while 35 institutional investors sold positions of 4,807,993 shares during the same period.

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