MTG Stock Summary and Trading Ideas (Mgic Investment | NYSE:MTG)

MGIC Investment Corp provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services. The insurance premiums that these customers pay for the protection accounts for close to majority of the company's total revenue. Investment income accounts for the remaining revenue. The company sells its insurance products in all 50 states of the United States and in Puerto Rico. Its greatest exposure is in California, Florida, Texas, Pennsylvania, Ohio, Illinois, Virginia, North Carolina, Georgia and New York.

Mgic Investment trades on the NYSE stock market under the symbol MTG.

As of May 10, 2024, MTG stock price climbed to $21.25 with 1,002,970 million shares trading.

MTG has a beta of 0.80, meaning it tends to be less sensitive to market movements. MTG has a correlation of 0.23 to the broad based SPY ETF.

MTG has a market cap of $5.71 billion. This is considered a Mid Cap stock.

Last quarter Mgic Investment reported $294 million in Revenue and $.65 earnings per share. This fell short of revenue expectation by $-6 million and exceeded earnings estimates by $.05.

In the last 3 years, MTG stock traded as high as $22.43 and as low as $11.38.

The top ETF exchange traded funds that MTG belongs to (by Net Assets): RDVY, VTI, IJH, VB, VBR.

MTG has outperformed the market in the last year with a price return of +48.1% while the SPY ETF gained +27.8%. MTG has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +12.6% and +4.3%, respectively, while the SPY returned +4.2% and +2.5%, respectively.

MTG support price is $20.89 and resistance is $21.47 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MTG stock will trade within this expected range on the day.