MGIC Investment (MTG) in Focus: Stock Tumbles 9.5%

Zacks Equity Research

Mon, Jul 14, 2014, 6:41 AM

MGIC Investment Corp. (MTG) saw a big move last session, as the company’s shares fell by nearly 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $9.09 to $9.45 in the past one-month time frame.

This private mortgage insurance and ancillary services provider has seen one positive current year estimate revisions over the past few weeks. However, the consensus for earnings hasn’t been in a trend. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

MTG currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Some better-ranked stocks in the same sector include CNO Financial Group, Inc. (CNO), MetLife, Inc. (MET) and Prudential Financial, Inc. (PRU). All these stocks hold a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

MGIC INVT CORP WIS (MTG): Free Stock Analysis Report

CNO FINANCIAL GROUP INC (CNO): Free Stock Analysis Report

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MGIC Investment (MTG) in Focus: Stock Tumbles 9.5%

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