Shares of MGIC Investment Corporation (MTG) Rally 5.96%

MGIC Investment Corporation (MTG) : Traders are bullish on MGIC Investment Corporation (MTG) as it has outperformed the S&P 500 by a wide margin of 0.52% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.4%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.96% in the last 1 week, and is up 4.92% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 6.78% and the 50-Day Moving Average is 0.15%.

MGIC Investment Corporation (NYSE:MTG): The stock opened at $6.49 on Friday but the bulls could not build on the opening and the stock topped out at $6.49 for the day. The stock traded down to $6.33 during the day, due to lack of any buying support eventually closed down at $6.40 with a loss of -0.31% for the day. The stock had closed at $6.42 on the previous day. The total traded volume was 3,920,180 shares.


The company Insiders own 0.98% of MGIC Investment Corporation shares according to the proxy statements. Institutional Investors own 95.15% of MGIC Investment Corporation shares. In a related news, Carr Cassandra C, director of Mgic Investment Corp, executed a transaction worth $31,750 on February 9, 2016. A total of 5,000 shares were purchased at an average price of $6.35. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the Company provides private mortgage insurance and ancillary services. The Companys subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC). The Company provides mortgage insurance to lenders throughout the United States and to Government sponsored entities to protect against loss from defaults on low down payment residential mortgage loans. Its principal product is primary mortgage insurance. Primary insurance provides mortgage default protection on individual loans and covers unpaid loan principal, delinquent interest and certain expenses associated with the default and subsequent foreclosure or sale approved by the Company. Through certain other non-insurance subsidiaries, it also provides various services for the mortgage finance industry, such as contract underwriting and portfolio analysis and retention.

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