Long Position on ESNT @ $51.00 on 9/23/2019 (Momentum)

Essent Group Ltd. (ESNT) provides private mortgage insurance and reinsurance for mortgages secured by resid

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

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

On August 2, Essent Group (ESNT) reported 2nd Quarter June 2019 earnings of $1.39 per share on revenue of $211.9 million. The consensus earnings estimate was $1.30 per share. Revenue grew 21.9% on a year-over-year basis. Shares have broken out of a bullish "wedge" and higher share prices are expected. 

Entry Point: $51.00

Trading Range: $31.08 - $52.03

Stop Loss: $48.45

Target Pirce: $56.10

Updates

12/11/2019 10:54:59 AM

ESNT closed at $54.55

Position closed on 12/11/2019 at price of $54.55 with a 6.96% gain in 79 days.

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