In a filing, MGIC Investment Corp revealed its Director CULVER CURT S acquired Company’s shares for reported $3.68 million on Aug 02 ’24. In the deal valued at $24.51 per share,150,000 shares were bought.
Keefe Bruyette downgraded its MGIC Investment Corp [MTG] rating to a Mkt perform from a an Outperform in a research note published on December 10, 2024; the price target was increased to $29 from $29. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early December from “a Buy” to “an Underperform”. Keefe Bruyette also remained covering MTG and has increased its forecast on June 03, 2024 with a “an Outperform” recommendation from previously “Mkt perform” rating. Keefe Bruyette revised its rating on April 04, 2024. It rated MTG as “a Mkt perform” which previously was an “an Outperform”.
Price Performance Review of MTG
On Tuesday, MGIC Investment Corp [NYSE:MTG] saw its stock jump 0.04% to $23.44. Over the last five days, the stock has lost -0.89%. MGIC Investment Corp shares have fallen nearly -1.14% since the year began. Nevertheless, the stocks have risen 21.51% over the past one year. While a 52-week high of $26.56 was reached on 01/06/25, a 52-week low of $18.68 was recorded on 01/07/25. SMA at 50 days reached $24.65, while 200 days put it at $23.26.
Levels Of Support And Resistance For MTG Stock
The 24-hour chart illustrates a support level at 23.25, which if violated will result in even more drops to 23.05. On the upside, there is a resistance level at 23.67. A further resistance level may holdings at 23.90. The Relative Strength Index (RSI) on the 14-day chart is 36.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.23%. Stochastics %K at 31.04% indicates the stock is a holding.
How much short interest is there in MGIC Investment Corp?
A steep rise in short interest was recorded in MGIC Investment Corp stocks on 2024-12-13, growing by 0.43 million shares to a total of 9.18 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 8.75 million shares. There was a rise of 4.7%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on December 06, 2023 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $18.50 price target.
