MGIC Investment Corp
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Financials : Thrifts & Mortgage Finance | Small Cap Blend
Company profile

MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. 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. Its principal product is primary mortgage insurance. Primary insurance provides mortgage default protection on individual loans and covers unpaid loan principal, delinquent interest and certain expenses associated with the default and subsequent foreclosure or sale approved by the Company. Through certain other non-insurance subsidiaries, the Company also provides various services for the mortgage finance industry, such as contract underwriting, analysis of loan originations and portfolios, and mortgage lead generation. The Company's subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC).

Price
Delayed
$8.42
Day's Change
0.805 (10.58%)
Bid
--
Ask
--
B/A Size
--
Day's High
8.53
Day's Low
8.05
Volume
(Light)

Today's volume of 3,485,701 shares is on pace to be much lighter than MTG's 10-day average volume of 7,217,197 shares.

3,485,701

Tesla target lowered at JMP after analyst makes cut to delivery estimates

9:19 am ET March 31, 2020 (MarketWatch)
Print

JMP Securities analyst Joseph Osha lowered his price target on shares of Tesla Inc. to $840 from $1,060 on Tuesday, though he maintained a market outperform rating on the stock. Osha also reduced his 2020 delivery estimates to 433,000 units from 523,000, citing a negative impact from the COVID-19 outbreak. "For Q1, we think more of the reductions likely flowed from Asia and Europe, with the situation reversing in Q2 and the U.S. market leading the decline," he wrote. "We assume that Tesla will be allowed to restart production in early May, both in Fremont and Nevada, although we do not believe the company will move back to full output until later in the year." Osha expects "sharp gross margin declines" in the first half of the year and assumes that while the company's labor costs will decline, Tesla won't take "any more dramatic action" to trim its fixed costs. Tesla shares are off 1.1% in premarket trading Tuesday. The stock has lost 25% over the past month as the S&P 500 has risen 11%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

March 31, 2020 09:19 ET (13:19 GMT)

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