MGIC Investment Corp [NYSE: MTG] surged by $1.07 during the normal trading session on while it closed the day at $24.43.
MGIC Investment Corp stock has also gained 4.45% of its value over the past 7 days. However, MTG stock has inclined by 20.05% in the 3 months of the year. Over the past six months meanwhile, it has gained 23.32% and gained 26.65% year-on date.
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The market cap for MTG stock reached $6.51 billion, with 272.49 million shares outstanding and 262.80 million shares in the current float. Compared to the average trading volume of 1.64M shares, MTG reached a trading volume of 3953577 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 Corp [MTG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MTG shares is $23.11 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 Corp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 03, 2024. While these analysts kept the previous recommendation, Keefe Bruyette raised their target price from $23.50 to $24. The new note on the price target was released on April 04, 2024, representing the official price target for MGIC Investment Corp stock. Previously, the target price had yet another raise to $18.50, while UBS analysts kept a Neutral rating on MTG stock.
The Average True Range (ATR) for MGIC Investment Corp is set at 0.48, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 5.59. The Price to Book ratio for the last quarter was 1.29. Price to Free Cash Flow for MTG in the course of the last twelve months was 9.44.
MTG stock trade performance evaluation
MGIC Investment Corp [MTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.45. With this latest performance, MTG shares gained by 14.32% in over the last four-week period, additionally plugging by 23.32% over the last 6 months – not to mention a rise of 46.38% 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 76.10, with the RSI for the last a single of trading hit 80.30, and the three-weeks RSI is set at 72.17 for MGIC Investment Corp [MTG]. The present Moving Average for the last 50 days of trading for this stock 21.57, while it was recorded at 23.69 for the last single week of trading, and 19.81 for the last 200 days.
MGIC Investment Corp [MTG]: An insightful look at the core fundamentals
MGIC Investment Corp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 2.48.
Earnings per share (EPS) analysis for MGIC Investment Corp [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 Corp go to 1.20%.
MGIC Investment Corp [MTG]: Institutional Ownership
The top three institutional holders of MTG stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in MTG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in MTG stock with ownership which is approximately 5.1238%.
