Permit Capital Decreased Its Mgic Invt Wis (MTG) Position by $660,000 as Share Price Declined; Synchrony Finl (SYF) Holding Has Increased by Tourbillon Capital Partners Lp

January 16, 2018 - By Henry Gaston

Permit Capital Llc decreased its stake in Mgic Invt Corp Wis (MTG) by 12.02% based on its latest 2017Q3 regulatory filing with the SEC. Permit Capital Llc sold 55,000 shares as the company’s stock declined 1.12% while stock markets rallied. The hedge fund held 402,500 shares of the property-casualty insurers company at the end of 2017Q3, valued at $5.04M, down from 457,500 at the end of the previous reported quarter. Permit Capital Llc who had been investing in Mgic Invt Corp Wis for a number of months, seems to be less bullish one the $5.68B market cap company. The stock increased 1.39% or $0.21 during the last trading session, reaching $15.33. About 1.06 million shares traded. MGIC Investment Corporation (NYSE:MTG) has risen 60.12% since January 16, 2017 and is uptrending. It has outperformed by 43.42% the S&P500.

Jason Karp increased its stake in Synchrony Finl (SYF) by 176.25% based on its latest 2017Q3 regulatory filing with the SEC. Tourbillon Capital Partners Lp bought 2.03M shares as the company’s stock declined 26.83% while stock markets rallied. The hedge fund run by Jason Karp held 3.18M shares of the consumer services company at the end of 2017Q3, valued at $98.64M, up from 1.15 million at the end of the previous reported quarter. Tourbillon Capital Partners Lp who had been investing in Synchrony Finl for a number of months, seems to be bullish on the $30.26B market cap company. The stock decreased 1.78% or $0.7 during the last trading session, reaching $38.67. About 4.20 million shares traded. Synchrony Financial (NYSE:SYF) has declined 10.35% since January 16, 2017 and is downtrending. It has underperformed by 27.05% the S&P500.

Tourbillon Capital Partners Lp, which manages about $1.12B and $4.13 billion US Long portfolio, decreased its stake in Dish Network Corp (NASDAQ:DISH) by 814,900 shares to 3.76M shares, valued at $203.80M in 2017Q3, according to the filing. It also reduced its holding in Amicus Therapeutics Inc (Put) (NASDAQ:FOLD) by 840,700 shares in the quarter, leaving it with 250,000 shares, and cut its stake in Mckesson Corp (NYSE:MCK).

Among 29 analysts covering Synchrony Financial (NYSE:SYF), 22 have Buy rating, 0 Sell and 7 Hold. Therefore 76% are positive. Synchrony Financial had 67 analyst reports since July 20, 2015 according to SRatingsIntel. The company was maintained on Monday, October 23 by Wells Fargo. The firm earned “Market Perform” rating on Wednesday, April 12 by IBC. BMO Capital Markets maintained Synchrony Financial (NYSE:SYF) on Wednesday, August 23 with “Buy” rating. The stock has “Buy” rating by Susquehanna on Thursday, December 28. The company was maintained on Wednesday, May 31 by BMO Capital Markets. The stock of Synchrony Financial (NYSE:SYF) has “Buy” rating given on Thursday, December 21 by Keefe Bruyette & Woods. The stock has “Buy” rating by BTIG Research on Thursday, December 14. On Friday, October 6 the stock rating was downgraded by Bank of America to “Hold”. The rating was maintained by Jefferies with “Buy” on Wednesday, January 10. The stock has “Neutral” rating by Macquarie Research on Wednesday, May 11.

Analysts await MGIC Investment Corporation (NYSE:MTG) to report earnings on January, 18. They expect $0.28 earnings per share, 0.00% or $0.00 from last year’s $0.28 per share. MTG’s profit will be $103.76M for 13.69 P/E if the $0.28 EPS becomes a reality. After $0.32 actual earnings per share reported by MGIC Investment Corporation for the previous quarter, Wall Street now forecasts -12.50% negative EPS growth.

Investors sentiment increased to 1.15 in Q3 2017. Its up 0.07, from 1.08 in 2017Q2. It increased, as 20 investors sold MTG shares while 89 reduced holdings. 37 funds opened positions while 88 raised stakes. 333.10 million shares or 3.73% more from 321.13 million shares in 2017Q2 were reported. Morgan Stanley invested in 917,297 shares or 0% of the stock. Service Automobile Association invested 0.03% in MGIC Investment Corporation (NYSE:MTG). Sadoff Inv Mngmt Lc holds 2.45M shares or 2.74% of its portfolio. Grantham Mayo Van Otterloo & Commerce Limited Liability owns 25,200 shares for 0% of their portfolio. 320,200 are owned by Dekabank Deutsche Girozentrale. Livforsakringsbolaget Skandia Omsesidigt accumulated 80,600 shares. Goldman Sachs Grp, New York-based fund reported 7.71M shares. Clinton Group invested in 0.17% or 124,324 shares. 3.76 million were accumulated by Millennium. Meeder Asset owns 75,146 shares or 0.1% of their US portfolio. The New York-based Renaissance Tech Lc has invested 0.07% in MGIC Investment Corporation (NYSE:MTG). Quantbot Techs LP has 23,622 shares for 0.03% of their portfolio. 2.58M were reported by Dimensional Fund Advsrs L P. Cwm Limited Liability Corp accumulated 0% or 352 shares. Peak6 LP owns 93,827 shares or 0.01% of their US portfolio.

Among 13 analysts covering MGIC Investment Corp. (NYSE:MTG), 11 have Buy rating, 0 Sell and 2 Hold. Therefore 85% are positive. MGIC Investment Corp. had 38 analyst reports since August 12, 2015 according to SRatingsIntel. The rating was upgraded by Keefe Bruyette & Woods on Monday, October 12 to “Outperform”. Bank of America maintained MGIC Investment Corporation (NYSE:MTG) rating on Friday, October 20. Bank of America has “Buy” rating and $16 target. The firm has “Outperform” rating by FBR Capital given on Thursday, June 30. FBR Capital maintained the shares of MTG in report on Monday, February 13 with “Outperform” rating. The firm earned “Buy” rating on Wednesday, August 30 by Keefe Bruyette & Woods. The stock has “Hold” rating by Deutsche Bank on Friday, November 3. The rating was maintained by FBR Capital with “Mkt Perform” on Friday, January 22. The rating was maintained by Compass Point with “Neutral” on Tuesday, May 10. BTIG Research maintained the shares of MTG in report on Wednesday, October 18 with “Buy” rating. The firm has “Buy” rating given on Thursday, January 4 by Susquehanna.

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