August 29, 2011
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: MGIC Investment (Nasdaq: MTG ) popped 16% in intraday trading today after news of an insider buy.
So what: Jon Michael Lauer, the company's CFO, purchased 20,000 shares on Aug. 26 at an average price of $2.34 a share. His total investment: $46,800.
Now what: At the stock's intraday price of $2.85, he's already turned a profit of 22%. Last week, the company reported its fourth consecutive quarterly loss. Though the CEO said he thought the worst was over, my Foolish colleague Shubh Datta concluded this stock is a "wait-and-watch game" after taking a look at the earnings report.
Interested in more info on MGIC Investment? Add it to your watchlist by clicking here.