Here's Why MGIC Investment (MTG) is a Great Momentum Stock to Buy

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: MGIC Investment (MTG) - MGIC Investment currently holds a Momentum Style Score of B, indicating a positive momentum outlook [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - MTG shares have increased by 7.76% over the past week, outperforming the Zacks Insurance - Multi line industry, which rose by 2.89% [5] - Over the past month, MTG's price change is 15.63%, compared to the industry's 12.15% [5] - In the last quarter, MTG shares rose by 4.12%, and over the past year, they gained 24.3%, while the S&P 500 saw movements of -6.46% and 11.69%, respectively [6] Trading Volume - The average 20-day trading volume for MTG is 1,973,910 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, two earnings estimates for MTG have increased, raising the consensus estimate from $2.73 to $2.79 [9] - For the next fiscal year, two estimates have also moved upwards, with no downward revisions noted [9] Conclusion - Given the positive momentum indicators and earnings outlook, MTG is positioned as a strong buy candidate for investors seeking short-term opportunities [11]