Investors Give MGIC a Wild Ride

By Brad Finkelstein

Published April 30, 2013, 4:48 p.m. EDT

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Updated April 30, 2013, 4:59 p.m. EDT

1 Min Read

MGIC Investment Corp. had the biggest percentage among Mortgage Industry Equity Composite stocks on Tuesday, but that is not the whole story regarding its trading on the day.

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The company, which reported a $73 million loss before the market opened, lost $0.49 from its Monday close at the opening bell. It lost another $0.07 cents to bottom at $4.92 per share before climbing out of the hole and actually running positive on the day before finishing down 1.46% or $0.08 per share to $5.40.

On the day, 10 MIEC stocks finished ahead, five down and two unchanged. Besides MGIC, the other large decliner was KB Home, down 1.12%. Radian, MGIC’s private mortgage insurance competitor, lost 0.58%.

Hudson City Bancorp led the gainers on a percentage basis, up 1.1%, followed by PHH, up 0.96%, and OceanFirst Financial and Dime Community, both up 0.92%.

Brad Finkelstein

Originations Editor

Brad Finkelstein is the originations editor of National Mortgage News. While he covers the entire process, Brad's specialty is loan production and... Read full bio

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