Bernie: Be Patient. Don't catch a Falling Knife. MTG solved Risk-to-Capital issue. That's positive.
So Bankruptcy and Runoff is out of question now. But they issued way too many shares, which I
didn't like. Watch out for Some near-term correction.
Paid what about this news from Forbes:
Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this “cluster”:
Purchased Insider Title Shares Price/Share Value
03/07/2013 Timothy J. Mattke Senior VP – CAO & Controller 10,000 $5.15 $51,500.00
03/07/2013 Lawrence J. Pierzchalski Executive Vice President 25,000 $5.15 $128,750.00
03/07/2013 Patrick Sinks President and COO 30,000 $5.15 $154,500.00
03/07/2013 Jeffrey H. Lane Executive Vice President 35,000 $5.15 $180,250.00
03/07/2013 Curt S. Culver Chairman and CEO 50,000 $5.15 $257,500.00
03/07/2013 Jon Michael Lauer Executive VP & CFO 50,000 $5.15 $257,500.00
The chart below shows the one year performance of MTG shares, versus its 200 day moving average. Note that MTG’s low point in its 52 week range is $0.66 per share, with $6.19 as the 52 week high point — that compares with a last trade of $4.95, with shares currently trading off about 11.8% on the day.
bernie, get out now, this stock will go nowhere for a long time, there is way too much dilution, that convertible bond issue is a killer, it wasn't really a bond deal, it was more like selling LEAPs, mtg basically doubled their share, culver bought because he was likely forced to by the investors, he has a history throughout this crisis of being wrong, he bought a lot back in 2010 at 7.50, i would save my money for when the new entrants register their shares, i would not be surprised at all to see essent list shares soon, for example, that i would buy into, but mtg shares are dead money for years now.
Its too late Paid, I just bought 5K shares at $5.14/s this morning. What do you think on RDN I may switch it there tomorrow even if I sell it at a lost tomorrow. Are u sure about what you said? They may release Feb data tomorrow and will give us a boost.
you were convincing people to sell at 1.55 - it was 100% sure that MTG would be not given the right to sell insurance...hmmm hmmm hmmm...and you say Culver was not right when buying the stock of his company :)