Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>MGIC Investment Corporation reported its financial performance for the third quarter of 2024 with several noteworthy highlights and challenges.</li><li>In this period, the company demonstrated robust financial results, however, the overall market conditions present both opportunities and challenges for its future operation.</li><li>On the positive side, MGIC reported a net income of $200 million, which translated to an annualized return on equity of 15.6%.</li></ul>

MGIC Investment Corporation reported its financial performance for the third quarter of 2024 with several noteworthy highlights and challenges.In this period, the company demonstrated robust financial results, however, the overall market conditions present both opportunities and challenges for its future operation.On the positive side, MGIC reported a net income of $200 million, which translated to an annualized return on equity of 15.6%.

MGIC: An Insight Into Its Reinsurance Strategy & Capital Management - Major Drivers

<ul><li>MGIC Investment Corporation reported its financial results for the second quarter of 2024, demonstrating a solid performance with sustained earnings and robust capital management strategies.</li><li>The company reported net income of $204 million and a substantial annualized return on equity of 16%, reflecting its continued financial health and profitability.</li><li>A key driver of revenue, MGIC's insurance in force, stood at $292 billion, showing a slight increase over the quarter, which signals stability in this core aspect of its business.</li></ul>

MGIC Investment Corporation reported its financial results for the second quarter of 2024, demonstrating a solid performance with sustained earnings and robust capital management strategies.The company reported net income of $204 million and a substantial annualized return on equity of 16%, reflecting its continued financial health and profitability.A key driver of revenue, MGIC's insurance in force, stood at $292 billion, showing a slight increase over the quarter, which signals stability in this core aspect of its business.

MGIC Investment Corporation: How Is It Dealing With Challenges of Market Dynamics and Mortgage Affordability? - Major Drivers

<ul><li>MGIC Investment Corporation reported its financial outcomes for the first quarter, showcasing a robust performance despite a varying macroeconomic climate.</li><li>The key financial indicators for MGIC demonstrated positive results, with net income standing at $174 million and an annualized return on equity of 13.7%.</li><li>The persistency rate maintained its previous levels at 86%, reflecting stable customer retention.</li></ul>

MGIC Investment Corporation reported its financial outcomes for the first quarter, showcasing a robust performance despite a varying macroeconomic climate.The key financial indicators for MGIC demonstrated positive results, with net income standing at $174 million and an annualized return on equity of 13.7%.The persistency rate maintained its previous levels at 86%, reflecting stable customer retention.

MGIC Investment Corporation: Initiation of Coverage - Focus on Risk and Insurance-in-force Management! - Major Drivers

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>Looking back, March 2023 presented a significant “wobble” to the U.S. Federal Reserve’s monetary policy tightening campaign as the sudden bank failures, the largest since the 2008 financial crisis, of Signature Bank and Silicon Valley Bank in particular, caused the Fed to step in as customers rushed to withdraw their deposits while these banks did not have enough liquid funds on hand to satisfy those customers’ cash requirements.</li><li>One reason for these bank failures was that normally safe investments in U.S. Treasuries, purchased at the highs, began losing money due to their duration mismatch as interest rates were rapidly increased by the Federal Reserve.</li><li>In came the Fed’s BTFP program to the rescue which was setup to eliminate a financial institution’s need to rapidly sell securities, and is open to federally insured banks, savings associations, and credit unions, as well as the U.S. branches of foreign banks.</li></ul>

Looking back, March 2023 presented a significant “wobble” to the U.S. Federal Reserve’s monetary policy tightening campaign as the sudden bank failures, the largest since the 2008 financial crisis, of Signature Bank and Silicon Valley Bank in particular, caused the Fed to step in as customers rushed to withdraw their deposits while these banks did not have enough liquid funds on hand to satisfy those customers’ cash requirements.One reason for these bank failures was that normally safe investments in U.S. Treasuries, purchased at the highs, began losing money due to their duration mismatch as interest rates were rapidly increased by the Federal Reserve.In came the Fed’s BTFP program to the rescue which was setup to eliminate a financial institution’s need to rapidly sell securities, and is open to federally insured banks, savings associations, and credit unions, as well as the U.S. branches of foreign banks.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Financial Select Sector SPDR F / Technical Analysis

<ul>
<li>Fitch's U.S. credit downgrade has done little to change the intermediate-term trend; we continue to believe the path of least resistance is higher for the major equity indexes.</li>
<li>We remain bullish on the S&amp;P 500, and we expect to see support at its 50-day MA moving forward (currently 4415).</li>
<li>Short term supports we are watching include 4460-4475 on the S&amp;P 500, $371.50 on the $QQQ, and $190-193 on the $IWM.</li>
</ul>


Fitch's U.S. credit downgrade has done little to change the intermediate-term trend; we continue to believe the path of least resistance is higher for the major equity indexes.
We remain bullish on the S&amp;P 500, and we expect to see support at its 50-day MA moving forward (currently 4415).
Short term supports we are watching include 4460-4475 on the S&amp;P 500, $371.50 on the $QQQ, and $190-193 on the $IWM.


Upgrading Financials to Market Weight; Shift to Value Continues. Buys in Energy, Financials, Mfg.

United States

MGIC Investment Corporation, through its subsidiary, provides private mortgage insurance coverage in the United States.  The Company's customers include thrifts, mortgage bankers and brokers, commercial banks, credit unions, and other lending institutions.  The Company also provides, through subsidiaries, underwriting and contract services related to home mortgage lending.

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Mgic Investment (MTG US)

MGIC: An Insight Into Its Reinsurance Strategy & Capital Management - Major Drivers

MGIC Investment Corporation reported its financial performance for the third quarter of 2024 with several noteworthy highlights and challenges. In...

Baptista Research

MGIC Investment Corporation: How Is It Dealing With Challenges of Market Dynamics and Mortgage Affordability? - Major Drivers

MGIC Investment Corporation reported its financial results for the second quarter of 2024, demonstrating a solid performance with sustained...

Baptista Research

MGIC Investment Corporation: Initiation of Coverage - Focus on Risk and Insurance-in-force Management! - Major Drivers

MGIC Investment Corporation reported its financial outcomes for the first quarter, showcasing a robust performance despite a varying macroeconomic...

Baptista Research

Weekly Stock Bullfinder - Week of 12/18

Looking back, March 2023 presented a significant “wobble” to the U.S. Federal Reserve’s monetary policy tightening campaign as the sudden bank...

Weekly Stock Bull Finder

Upgrading Financials to Market Weight; Shift to Value Continues. Buys in Energy, Financials, Mfg.

Upgrading Financials $XLF to Market Weight; The Shift to Value Continues. Short term supports we are watching include 4460-4475 on the $SPX,...

Vermilion Research

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