Parus Finance (uk) Ltd Lowers stake in MGIC Investment Corp. (MTG)

MGIC Investment Corp. (MTG) : Parus Finance (uk) Ltd reduced its stake in MGIC Investment Corp. by 43.39% during the most recent quarter end. The investment management company now holds a total of 3,556,314 shares of MGIC Investment Corp. which is valued at $31,366,689 after selling 2,726,130 shares in MGIC Investment Corp. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.MGIC Investment Corp. makes up approximately 4.99% of Parus Finance (uk) Ltd’s portfolio.

Other Hedge Funds, Including , Paradigm Capital Management Incny added MTG to its portfolio by purchasing 41,100 company shares during the most recent quarter which is valued at $364,968. MGIC Investment Corp. makes up approx 0.04% of Paradigm Capital Management Incny’s portfolio.Tealwood Asset Management Inc reduced its stake in MTG by selling 40,585 shares or 11.84% in the most recent quarter. The Hedge Fund company now holds 302,306 shares of MTG which is valued at $2,605,878. MGIC Investment Corp. makes up approx 1.27% of Tealwood Asset Management Inc’s portfolio.Aperio Group boosted its stake in MTG in the latest quarter, The investment management firm added 12,827 additional shares and now holds a total of 40,408 shares of MGIC Investment Corp. which is valued at $322,860.Oxbow Advisors reduced its stake in MTG by selling 3,730 shares or 1.31% in the most recent quarter. The Hedge Fund company now holds 279,945 shares of MTG which is valued at $2,261,956. MGIC Investment Corp. makes up approx 0.33% of Oxbow Advisors’s portfolio.

MGIC Investment Corp. closed down -0.02 points or -0.22% at $9.11 with 35,40,524 shares getting traded on Monday. Post opening the session at $9.14, the shares hit an intraday low of $9.06 and an intraday high of $9.2 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, MGIC Investment Corp. reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $0.20. The company had revenue of $273.90 million for the quarter, compared to analysts expectations of $259.57 million. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on MGIC Investment Corp.. MGIC Investment Corp. was Initiated by BofA/Merrill to “Buy” on Oct 17, 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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