Investors Still Dumping MGIC Stock on Monday

For the second consecutive trading session, MGIC Investment Corp. was the member stock of the Mortgage Industry Equity Composite with the biggest loss, down 4.51% on Monday.

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On Friday, investors reacted to a Macquarie Group report giving MGIC a sell rating, declining by 5.9% on that day.

The other big losers on Monday were Ellie Mae, down 3.83%, and CoreLogic, down 3.75%.

On the day the latest rally in the stock market came to a halt, losers outpaced gainers in the MIEC 12 to 5.

The stock with the largest percentage gain was OceanFirst Financial, up 6.43% after Sandler O’Neill raised its rating on the company to “buy” from “hold.” During the day, the stock broke its 52-week high.

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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