MGIC, Radian Boosted by Goldman Sachs Report

MGIC Investment Corp. was the leading percentage gainer among Mortgage Industry Equity Composite stocks on Thursday, closing 2.35% higher.

It closed at $8.29 per share, a gain of $0.19. Earlier in the day, the stock gained as much as $0.44 per share as Goldman Sachs recommended investors purchase shares in MGIC and competitor Radian Group, according to a report from Bloomberg News.

Goldman Sachs price target for MGIC is $10 per share and Radian is $17 per share. On Wednesday, MGIC also had the largest percentage gain among MIEC stocks.

Radian closed at $14.61, or a 1.11% gain, after hitting $14.81 earlier in the day.

OceanFirst Financial gained 1.31%, while Dime Community was up 0.8% and Ellie Mae was up 0.34%.

PHH had the largest loss among MIEC stocks, down 2.15%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/MGIC-Radian-Boosted-Goldman-Sachs-1040153-1.html

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