Miss MTG's $5.15 Secondary But Think It's A Deal At $5?

Looking back to 176 days ago, MGIC Investment Corp. (NYSE: MTG) priced a 135,000,000 share secondary stock offering at $5.15 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Friday, the stock is now 40.4% higher than the offering price.