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MTG

MGIC Investment

$10.93

-1.89 (-14.74%)

11:22
04/09/18
04/09
11:22
04/09/18
11:22

MGIC Investment selloff 'overdone,' says BTIG

BTIG analyst Mark Palmer notes that shares of MGIC Investment were down after the company announced that it will cut borrower-paid mortgage insurance premiums beginning on June 4 as it essentially ceded virtually all of the benefit from the U.S. tax reform legislation enacted last December to customers. While the analyst had anticipated that MGIC Investment and its private mortgage insurance peers would share a portion of the tax benefits with customers in the form of lower premium rates, the extent of the sharing exceeded his expectations. Nonetheless, Palmer views the selloff as "overdone" and presents a buying opportunity. He reiterates a Buy rating and $18 price target on the stock.

  • 18

    Apr

MTG MGIC Investment
$10.93

-1.89 (-14.74%)

03/12/18
WELS
03/12/18
NO CHANGE
WELS
Mortgage Insurers sliding on fears about Freddie pilot, says Wells Fargo
After Dowling Research said Freddie Mac (FMCC) has introduced an alternative for securing mortgage insurance as a pilot program with Arch Capital (ACGL) that has pricing "solidly below" published mortgage insurer lender-paid singles rate cards, Wells Fargo analyst Sean Dargan noted that Essent Group (ESNT), MGIC Investment (MTG) and Radian Group (RDN) are down 8%-11% in reaction to fears that Arch will gain meaningful share in the Freddie business. While awaiting more information from both Arch and Freddie Mac, Dargan said that Essent, given its Bermuda reinsurance structure, would be better positioned to replicate the Arch model than would MGIC or Radian. Near midday, Essent is down 8%, MGIC is down 9% and Radian is down 11%.
03/13/18
DBAB
03/13/18
NO CHANGE
DBAB
Private Mortgage Insurer selloff yesterday overdone, says Deutsche Bank
Shares of Private Mortgage Insurers were down roughly 10% yesterday following news that Freddie Mac (FMCC) and private MI Arch had initiated a structure whereby a panel of reinsurers will provide the necessary credit risk enhancement for a portion of low down-payment mortgages otherwise met by traditional mortgage insurance, Deutsche Bank analyst Phil Stefano tells investors in a research note. The analyst recommends buying Essent Group (ESNT), MGIC Investment (MTG), NMI Holdings (NMIH) and Radian Group (RDN) following yesterday's weakness. Clients have relayed from reports the potential for a 10%-30% decline in Singles pricing, the analyst says. He notes this business makes up roughly 15%-20% of new business being written today. Assuming a 20% price cut on 20% of the business combined with the uncertainties underlying the new structure, Stefano would have anticipated a "muted high-single-digit reaction to the stocks." He feels the selloff yesterday in the Private Mortgage Insurers is overdone.
03/13/18
RILY
03/13/18
NO CHANGE
RILY
B. Riley FBR says buy MGIC, NMI following yesterday's weakness
B. Riley FBR analyst Randy Binner recommends buying shares of MGIC Investment (MTG) and NMI Holdings (NMIH) following yesterday's selloff on the Freddie Mac/Arch headlines. While still a proposal, the new structure would only be marginally dilutive to earnings if implemented, Binner tells investors in a research note.
03/14/18
MACQ
03/14/18
INITIATION
MACQ
Outperform
MGIC Investment initiated with an Outperform at Macquarie
Macquarie initiated MGIC Investment with an Outperform and $17 price target.

TODAY'S FREE FLY STORIES

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General news
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BCE

BCE

$40.57

0.045 (0.11%)

21:57
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SWCH

Switch

$13.96

-0.11 (-0.78%)

21:55
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Switch rating change at Raymond James »

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  • 13

    Aug

FDC

First Data

$23.90

-0.78 (-3.16%)

21:55
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Syndicate
First Data 64M share Secondary priced at $23.75 »

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ARDS

Aridis Pharmaceuticals

$0.00

(0.00%)

21:54
08/13/18
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21:54
Syndicate
Aridis Pharmaceuticals 2M share IPO priced at $13.00 »

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  • 14

    Aug

JPM

JPMorgan

$113.88

-1.8 (-1.56%)

20:52
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20:52
Periodicals
JPMorgan to stop offering investment accounts to foreign clients, Bloomberg says »

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  • 12

    Oct

BIIB

Biogen

$340.67

-2.54 (-0.74%)

20:47
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20:47
Periodicals
UK's NICE: Biogen's Spinraza too expensive for health service, Reuters reports »

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  • 13

    Aug

HD

Home Depot

$194.11

-2.19 (-1.12%)

, TPR

Tapestry

$47.42

-0.52 (-1.08%)

20:25
08/13/18
08/13
20:25
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20:25
Earnings
Notable companies reporting before tomorrow's open »

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HD

Home Depot

$194.11

-2.19 (-1.12%)

TPR

Tapestry

$47.42

-0.52 (-1.08%)

AAP

Advance Auto Parts

$144.79

-1.52 (-1.04%)

EAT

Brinker

$43.81

-0.37 (-0.84%)

03/08/13
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  • 14

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    Sep

HIL

Hill International

$5.65

(0.00%)

19:45
08/13/18
08/13
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19:45
Hot Stocks
Hill International provides update on NYSE notice of delisting »

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  • 06

    Dec

NVDA

Nvidia

$256.08

1.38 (0.54%)

19:36
08/13/18
08/13
19:36
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19:36
Hot Stocks
Nvidia launches Turing GPU architecture in computer graphics »

NVIDIA today reinvented…

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  • 16

    Aug

ESRX

Express Scripts

$84.04

0.39 (0.47%)

, CI

Cigna

$181.78

-1.59 (-0.87%)

19:33
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19:33
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19:33
Hot Stocks
Carl Icahn says will no longer vote against Cigna/Express Scripts deal »

Today Carl Icahn released…

ESRX

Express Scripts

$84.04

0.39 (0.47%)

CI

Cigna

$181.78

-1.59 (-0.87%)

03/08/13
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  • 13

    Aug

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    Aug

MEOH

Methanex

$71.55

-0.45 (-0.63%)

19:17
08/13/18
08/13
19:17
08/13/18
19:17
Hot Stocks
Methanex signs natural gas supply agreement for Chile operations »

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PERY

Perry Ellis

$29.10

-0.03 (-0.10%)

19:16
08/13/18
08/13
19:16
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19:16
Periodicals
Randa nearing decision on competing Perry Ellis bid, WWD reports »

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TCBK

TriCo Bancshares

$39.20

-0.14 (-0.36%)

19:01
08/13/18
08/13
19:01
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19:01
Hot Stocks
TriCo Bancshares names Peter Wiese as CFO, effective August 14 »

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  • 24

    Sep

  • 07

    Nov

ARQL

ArQule

$5.67

0.21 (3.85%)

, YEXT

Yext

$22.57

-0.18 (-0.79%)

19:01
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08/13
19:01
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19:01
Hot Stocks
On The Fly: After Hours Movers »

HIGHER: ArQule (ARQL) up…

ARQL

ArQule

$5.67

0.21 (3.85%)

YEXT

Yext

$22.57

-0.18 (-0.79%)

CWT

California Water Service

$40.05

-0.4 (-0.99%)

SJW

SJW Corp.

$62.49

0.74 (1.20%)

VERI

Veritone

$15.81

1.05 (7.11%)

SWCH

Switch

$13.96

-0.11 (-0.78%)

VIPS

Vipshop

$8.98

-0.15 (-1.64%)

SAIL

SailPoint

$28.39

-0.43 (-1.49%)

RH

RH

$151.63

7.175 (4.97%)

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  • 13

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    Aug

ROSE

Rosehill Resources

$8.36

-0.09 (-1.07%)

19:01
08/13/18
08/13
19:01
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19:01
Earnings
Rosehill Resources reports Q2 net income $8.7M vs. loss ($1.4M) last year »

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  • 19

    Aug

CMC

Commercial Metals

$21.80

0.11 (0.51%)

18:49
08/13/18
08/13
18:49
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18:49
Upgrade
Commercial Metals rating change at Goldman Sachs »

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  • 11

    Sep

KALU

Kaiser Aluminum

$109.76

-1.35 (-1.22%)

18:44
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18:44
Downgrade
Kaiser Aluminum rating change at Goldman Sachs »

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ESTA

Establishment Labs

$27.10

0.66 (2.50%)

18:09
08/13/18
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18:09
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18:09
Initiation
Establishment Labs initiated at BTIG »

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  • 14

    Aug

BRK.A

Berkshire Hathaway

$310,200.00

-1950 (-0.62%)

, BRK.B

Berkshire Hathaway

$205.17

-1.365 (-0.66%)

18:08
08/13/18
08/13
18:08
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18:08
Hot Stocks
Berkshire Hathaway comments on quarterly reporting on Form 13F »

"Tomorrow afternoon,…

BRK.A

Berkshire Hathaway

$310,200.00

-1950 (-0.62%)

BRK.B

Berkshire Hathaway

$205.17

-1.365 (-0.66%)

03/08/13
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PRO

Pros Holdings

$39.80

-0.2 (-0.50%)

18:06
08/13/18
08/13
18:06
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18:06
Syndicate
PROS Holdings 450K share Block Trade; price range $7.60-$7.80 »

Barclays is acting as…

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  • 13

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    Aug

YY

YY

$87.72

-1.09 (-1.23%)

18:06
08/13/18
08/13
18:06
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18:06
Earnings
Breaking Earnings news story on YY »

YY sees Q3 revenue growth…

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  • 13

    Aug

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    Sep

ICUI

ICU Medical

$293.00

0.85 (0.29%)

18:05
08/13/18
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18:05
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18:05
Syndicate
ICU Medical 700K share Block Trade; price range $287-$290 »

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  • 21

    Aug

YY

YY

$87.72

-1.09 (-1.23%)

18:05
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18:05
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18:05
Earnings
YY reports Q2 adjusted EPS $2.03, consensus $1.77 »

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  • 13

    Aug

  • 10

    Sep

LAC

Lithium Americas

$3.56

-0.17 (-4.56%)

, SQM

SQM

$45.68

-1.16 (-2.48%)

18:03
08/13/18
08/13
18:03
08/13/18
18:03
Hot Stocks
Lithium Americas to partner with Ganfeng Lithium in Cauchari-Olaroz »

Lithium Americas (LAC) is…

LAC

Lithium Americas

$3.56

-0.17 (-4.56%)

SQM

SQM

$45.68

-1.16 (-2.48%)

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