The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. MGIC Investment Corp shares valued at $3,676,500 were purchased by CULVER CURT S on Aug 02 ’24. At $24.51 per share, CULVER CURT S acquired 150,000 shares.
As published in a research note from Keefe Bruyette on December 10, 2024, MGIC Investment Corp [MTG] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $29 from $29. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”an Underperform”‘ outlook in a report released in early December. As of June 03, 2024, Keefe Bruyette has increased its “Mkt perform” rating to a “an Outperform” for MTG. Earlier on April 04, 2024, Keefe Bruyette downgraded its rating. Their new recommendation was “a Mkt perform” for MTG stock which previously was a “an Outperform”.
Analyzing MTG Stock Performance
During the last five days, there has been a drop of approximately -3.27%. Over the course of the year, MGIC Investment Corp shares have jumped approximately 28.88%. Shares of the company reached a 52-week high of $26.56 on 11/25/24 and a 52-week low of $18.68 on 02/09/24. A 50-day SMA is recorded $25.23, while a 200-day SMA reached $23.00. Nevertheless, trading volume fell to 1.35 million shares from 1.65 million shares the previous day.
Support And Resistance Levels for MGIC Investment Corp (MTG)
According to the 24-hour chart, there is a support level at 24.72, which, if violated, would cause prices to drop to 24.58. In the upper region, resistance lies at 25.12. The next price resistance is at 25.37. RSI (Relative Strength Index) is 44.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.82, which suggests the price will decrease in the coming days. Percent R is at 69.39%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
