MTG holding up pretty well as of late and it could be because of this recent upgrade on Wednesday:
Notable Analyst Rating Changes 05/19: Piper Jaffray Upgrades MGIC Investment Corp. (MTG) to Overweight; Attractive After Recent Dip MGIC Releases Monthly Operating Statistics MGIC Investment Shareholders Re-elect Directors, Approve Shareholders Rights Agreement and Ratify Independent Accountants for 2010 KBW Research Upgrades MGIC Investment (MTG) to Outperform.
Piper Jaffray upgrades MGIC Investment Corp. (NYSE: MTG) from Neutral to Overweight. Price target increased by $1 to $11.
Piper analyst says, "With the recent decline in shares of MTG, and despite the continued uncertainty around credit and the housing market, we believe shares of MTG now appear attractive and ripe for a reversal of fortune. Our confidence reflects growing optimism in the government's successful implementation of the HAMP program and the trickle down benefits to MGIC. As such, we raise our investment opinion to Overweight and tweak our estimates for 2010 and 2011, while rolling out estimates for 2012."
I agree. There were days when MTG was the only positive performer I had. IMO MTG is coiled and ready for a strong rebound. I don’t see it getting back to the $13 range anytime soon, but I think high 11’s is very doable. The only mistake I won't make this time is not taking some profit. You can never go broke by taking profit. GLTA