Shares of MGIC Investment Corp. (NYSE:MTG) saw strong trading volume on Wednesday . 10,096,344 shares were traded during trading, an increase of 26% from the previous session’s volume of 8,035,931 shares.The stock last traded at $5.74 and had previously closed at $5.74.

Several research analysts recently issued reports on the company. Deutsche Bank AG assumed coverage on MGIC Investment Corp. in a research report on Monday, April 4th. They set a “hold” rating and a $9.00 target price for the company. FBR & Co reaffirmed a “market perform” rating and set a $7.50 target price (up from $7.00) on shares of MGIC Investment Corp. in a research report on Thursday, April 21st. Credit Suisse Group AG raised their target price on MGIC Investment Corp. from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, May 2nd. Zacks Investment Research lowered MGIC Investment Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, April 20th. Finally, Compass Point lowered MGIC Investment Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.00 to $9.00 in a research report on Wednesday, April 20th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. MGIC Investment Corp. currently has an average rating of “Buy” and an average price target of $9.88.

The company’s 50 day moving average is $6.38 and its 200 day moving average is $7.07. The stock has a market capitalization of $1.96 billion and a P/E ratio of 2.31.

MGIC Investment Corp. (NYSE:MTG) last released its quarterly earnings results on Tuesday, April 19th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The business had revenue of $258.60 million for the quarter, compared to analyst estimates of $258.88 million. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 EPS. Analysts anticipate that MGIC Investment Corp. will post $0.79 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors increased its stake in shares of MGIC Investment Corp. by 1.8% in the fourth quarter. Nationwide Fund Advisors now owns 271,591 shares of the company’s stock valued at $2,398,000 after buying an additional 4,824 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of MGIC Investment Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 629,441 shares of the company’s stock valued at $5,558,000 after buying an additional 10,034 shares during the last quarter. Rhumbline Advisers increased its stake in shares of MGIC Investment Corp. by 4.3% in the fourth quarter. Rhumbline Advisers now owns 442,215 shares of the company’s stock valued at $3,905,000 after buying an additional 18,270 shares during the last quarter. Atlanta Capital Group purchased a new stake in shares of MGIC Investment Corp. during the fourth quarter valued at approximately $1,078,000. Finally, Suntrust Banks Inc. purchased a new stake in shares of MGIC Investment Corp. during the fourth quarter valued at approximately $1,182,000.

MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the Company provides private mortgage insurance and ancillary services. The Company’s subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC). The Company provides mortgage insurance to lenders throughout the United States and to Government sponsored entities to protect against loss from defaults on low down payment residential mortgage loans.

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