MGIC Investment Corporation (NYSE:MTG) has a beta value of 1.85 and has seen 1,385,864 shares traded in the recent trading session. The company, currently valued at $2.76 Billion, closed the recent trade at $8.17 per share which meant it gained $0.1 on the day or 1.81% during that session. The MTG stock price is -86.54% off its 52-week high price of $15.24 and 46.88% above the 52-week low of $4.34. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.71 Million shares traded. The 3-month trading volume is 7.33 Million shares.
MGIC Investment Corporation (NYSE:MTG) trade information
Sporting 1.69% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Jun 24 when the MTG stock price touched $8.34-2 or saw a rise of 2.4%. Year-to-date, MGIC Investment Corporation shares have moved -42.55%, while the 5-day performance has seen it change -4.46%. Over the past 30 days, the shares of MGIC Investment Corporation (NYSE:MTG) have changed -0.85%. Short interest in the company has seen 19.45 Million shares shorted with days to cover at 2.65.
Wall Street analysts have a consensus price target for the stock at $12.2, which means that the shares’ value could jump 49.33% from current levels. The projected low price target is $9 while the price target rests at a high of $18. In that case, then, we find that the current price level is +120.32% off the targeted high while a plunge would see the stock lose 10.16% from current levels.
MGIC Investment Corporation (MTG) estimates and forecasts
Figures show that MGIC Investment Corporation shares have underperformed across the wider relevant industry. The company’s shares have lost -43.35% over the past 6 months, with this year growth rate of -34.78%, compared to -4.8% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -69.6% and -52.1% for the next quarter. Revenue growth from the last financial year stood is estimated to be -2.5%.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +23.7% over the past 5 years. Earnings growth for 2020 is a modest +3.8% while over the next 5 years, the company’s earnings are expected to increase by -0.27%.
MGIC Investment Corporation (NYSE:MTG)’s Major holders
Insiders own 1.66% of the company shares, while shares held by institutions stand at 94.9% with a share float percentage of 96.5%. Investors are also buoyed by the number of investors in a company, with MGIC Investment Corporation having a total of 446 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 36.81 Million shares worth more than $233.72 Million. As of March 30, 2020, Vanguard Group, Inc. (The) held 10.87% of shares outstanding.
The other major institutional holder is FMR, LLC, with the holding of over 22.64 Million shares as of March 30, 2020. The firm’s total holdings are worth over $143.76 Million and represent 6.69% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. As of March 30, 2020, the former fund manager holds about 3.02% shares in the company for having 10230716 shares of worth $64.97 Million while later fund manager owns 9.01 Million shares of worth $57.24 Million as of March 30, 2020, which makes it owner of about 2.66% of company’s outstanding stock.