Tumbling Stocks: MGIC Investment Corp.(MTG), Ocwen Financial Corp(OCN) and Dendreon Corporation(DNDNQ)?
New York, NY – GDP INSIDER – 01/21/2015.
This article discusses three companies: MGIC Investment Corp.(NYSE:MTG), Ocwen Financial Corp(NYSE:OCN) and Dendreon Corporation(OTCMKTS:DNDNQ)
MGIC Investment Corp.(NYSE:MTG) gained 0.47% to $0.04 yesterday on heavy volume trading and closed the day at a new closing price of $8.62, following the release of its better-than-expected 4Q14 earnings. The company beat the analysts’ estimate of earnings per share of $0.14 by $0.05 to $0.19 on an adjusted basis and reported net income of $74.4 million. The company also beat the analysts’ estimates of $236.1 million revenue by $3.7 million and generated $239.8 million in revenue. MGIC Investment Corp has a target estimate of $10.72 and analysts’ mean recommendation of 2.30.
Ocwen Financial Corp(NYSE:OCN) saw a decline of $0.58 as it slipped 7.06% to close its last trading session at $7.64. However, the stock started to recover during afterhours trading and gained 0.79% to $0.06 to push the stock at $7.70. The company has a beta of 0.88 and an average true range of 1.49. Ocwen Financial Corp has an RSI value of 20.51, which indicates its oversold behavior. Analysts at Barclay reiterated their equal weight rating on the stock and cut their price target to $12 from $20 on the shares of Ocwen Financial Corp on January 13, 2015.
Dendreon Corporation(OTCMKTS:DNDNQ) saw a gain of 13.79% in value as the stock jumped $0.020 to close its trading session at a new closing price of $0.165. The $26.19 million market cap company, which traded within a range of $0.15 to $0.19 during intraday trading, currently sits at a profit margin (ttm) of -54.35%, operating margin (ttm) of -21.06% and return on assets (ttm) of -9.12%. Not only that, but the company also has an earnings per share (ttm) of $-1.06 and a beta of 2.141, which could tumble investors’ interest in the stock.
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