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MGIC Investment (MTG) Soars: Stock Adds 9.1% in Session

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MGIC Investment Corporation (MTG - Free Report) was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $10.71 to $11.37 in the past one month time frame.

The move came after the company reported solid second-quarter 2018 results.

The company has seen two positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for MGIC Investment. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

MGIC Investment currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.

Another stock worth considering in the Insurance - Multi line industry is Legal & General Group Plc (LGGNY - Free Report) , which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is MTG going up? Or down? Predict to see what others think:Up or Down

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