Three Corner Global Investors Lp adds MGIC Investment Corp. (MTG) to its portfolio

MGIC Investment Corp. (MTG) : Three Corner Global Investors Lp added new position in MGIC Investment Corp. during the most recent quarter end. The investment management firm now holds 2,386,100 shares of MGIC Investment Corp. which is valued at $17,704,862 , the company said in a statement filed on Aug 15, 2016 with the SEC.MGIC Investment Corp. makes up approximately 5.77% of Three Corner Global Investors Lp’s portfolio.

Other Hedge Funds, Including , Guggenheim Capital reduced its stake in MTG by selling 107,874 shares or 65.18% in the most recent quarter. The Hedge Fund company now holds 57,620 shares of MTG which is valued at $427,540.Profund Advisors boosted its stake in MTG in the latest quarter, The investment management firm added 1,665 additional shares and now holds a total of 13,252 shares of MGIC Investment Corp. which is valued at $98,330.Los Angeles Capital Management Equity Research Inc reduced its stake in MTG by selling 286,333 shares or 54.19% in the most recent quarter. The Hedge Fund company now holds 242,018 shares of MTG which is valued at $1,769,152. MGIC Investment Corp. makes up approx 0.01% of Los Angeles Capital Management Equity Research Inc’s portfolio.California Public Employees Retirement System boosted its stake in MTG in the latest quarter, The investment management firm added 26,600 additional shares and now holds a total of 760,800 shares of MGIC Investment Corp. which is valued at $5,599,488. MGIC Investment Corp. makes up approx 0.01% of California Public Employees Retirement System’s portfolio.Sg Americas Securities boosted its stake in MTG in the latest quarter, The investment management firm added 247,390 additional shares and now holds a total of 352,676 shares of MGIC Investment Corp. which is valued at $2,595,695. MGIC Investment Corp. makes up approx 0.02% of Sg Americas Securities’s portfolio.

MGIC Investment Corp. opened for trading at $8.1 and hit $8.145 on the upside on Thursday, eventually ending the session at $8.11, with a gain of 0.25% or 0.02 points. The heightened volatility saw the trading volume jump to 52,78,622 shares. Company has a market cap of $2,763 M.

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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