Long Position on ESNT @ $27.50 on 7/6/2015 (Momentum)

Essent Group Ltd. (ESNT) provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States.

The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

It serves originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders.   

The mortgage insurance operations are conducted through Essent Holdings' regulated and licensed wholly owned subsidiaries, Essent Guaranty, Inc. (Essent Guaranty) and Essent Guaranty of PA, Inc. (Essent PA). Essent Group also has a wholly owned Class 3A Insurer licensed pursuant to Section 4, Essent Reinsurance Ltd. (Essent Re), which offers mortgage-related insurance and reinsurance.

The Company is licensed to write mortgage guaranty coverage in all 50 states and the District of Columbia.

The Company operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California. Shares have formed a bullish "cup and handle" following the release of its most recent quarterly report. HIgher share prices are expected for this stock.

52-Weeks Trading Range: $17.26 - $28.07

Entry Point: $27.50

Stop Loss: $26.10

Target Price: $30.25

Updates

8/6/2015 3:28:30 PM

ESNT closed at $29.00 after its 30 days expired.

Position closed on 8/6/2015 at price of $29.00 with a 5.45% gain in 31 days.

Back to Portfolio