Highlander Capital Management buys $1,082,207 stake in MGIC Investment Corp. (MTG)

MGIC Investment Corp. (MTG) : Highlander Capital Management scooped up 9,000 additional shares in MGIC Investment Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 145,850 shares of MGIC Investment Corp. which is valued at $1,082,207.MGIC Investment Corp. makes up approximately 1.08% of Highlander Capital Management’s portfolio.

Other Hedge Funds, Including , New York State Common Retirement Fund reduced its stake in MTG by selling 567,558 shares or 52.04% in the most recent quarter. The Hedge Fund company now holds 523,001 shares of MTG which is valued at $3,880,667. MGIC Investment Corp. makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Tlp Group reduced its stake in MTG by selling 36,000 shares or 30.92% in the most recent quarter. The Hedge Fund company now holds 80,443 shares of MTG which is valued at $600,105. MGIC Investment Corp. makes up approx 0.36% of Tlp Group’s portfolio.Heartland Advisors Inc boosted its stake in MTG in the latest quarter, The investment management firm added 667,200 additional shares and now holds a total of 1,460,100 shares of MGIC Investment Corp. which is valued at $10,936,149. MGIC Investment Corp. makes up approx 0.58% of Heartland Advisors Inc’s portfolio.Cable Hill Partners boosted its stake in MTG in the latest quarter, The investment management firm added 264 additional shares and now holds a total of 956 shares of MGIC Investment Corp. which is valued at $7,160.Advisory Services Network boosted its stake in MTG in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 3,600 shares of MGIC Investment Corp. which is valued at $25,776. MGIC Investment Corp. makes up approx 0.01% of Advisory Services Network’s portfolio.

MGIC Investment Corp. (MTG) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $7.85 and reached the intraday high at $7.9. The bulls started the profit booking and pushed the shares to intraday low of $7.8. The trading session was marked by a volume range of 41,40,777 shares exchanging hands. The 52-week high of the shares is $10.88 and the 52-week low is $5.36. The market cap of the company stands at $2,681 M and there are 34,06,41,280 shares in public circulation.

On the company’s financial health, MGIC Investment Corp. reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.20. The company had revenue of $263.50 million for the quarter, compared to analysts expectations of $254.41 million. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on MGIC Investment Corp.. Company shares were Upgraded by Compass Point on Jul 20, 2016 to ” Buy”, Firm has raised the Price Target to $ 9 from a previous price target of $8.50 .Company shares were Reiterated by FBR Capital on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 9 from a previous price target of $7.50 .MGIC Investment Corp. was Upgraded by FBR Capital to ” Outperform” on Jun 30, 2016.

MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries the Company provides private mortgage insurance and ancillary services. The Company’s 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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