Fidelity’s Stock Price Up After Offering Prices

Fidelity National Financial had the second largest percentage gain among Mortgage Industry Equity Composite stocks on Friday, even though the company priced a secondary offering below its Thursday closing price.

The offering is being used to raise cash to pay for Lender Processing Services and that cheered investors. FNF closed Friday at $27.58, up 1.85% from Thursdays $27.08. The offering was priced at $26.75 per share.

LPS, which is not in the MIEC, hit a 52-week high during the day and closed at $34.06, up 1.13%

There were 10 MIEC stocks which closed higher.

Ellie Mae was the largest gainer on Friday, up 4%. MGIC Investment Corp. had the third biggest percentage increase, up 1.1%.

There were seven MIEC stocks closing lower, led by Astoria Financial, down 1%. CoreLogic was down 0.74% and OceanFirst Financial was down 0.67%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Fidelity-Stock-Price-Up-1039584-1.html

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