Radian Group Inc (RDN) Short Interest Down 43.2% in January
Radian Group Inc (NYSE:RDN) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,305,185 shares, a decline of 43.2% from the January 12th total of 2,298,646 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 989,351 shares, the short-interest ratio is currently 1.3 days.
Shares of Radian Group (RDN) opened at $21.51 on Thursday. The stock has a market capitalization of $4,640.00, a P/E ratio of 39.11, a PEG ratio of 1.34 and a beta of 1.58. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34. Radian Group has a 1 year low of $15.58 and a 1 year high of $23.49.
Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, February 1st. The insurance provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. The business had revenue of $317.90 million for the quarter, compared to analysts’ expectations of $322.32 million. Radian Group had a return on equity of 13.59% and a net margin of 9.91%. Radian Group’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. analysts predict that Radian Group will post 2.4 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. increased its position in shares of Radian Group by 27.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,342,225 shares of the insurance provider’s stock valued at $25,086,000 after purchasing an additional 292,200 shares during the period. Prudential Financial Inc. increased its position in shares of Radian Group by 57.0% during the third quarter. Prudential Financial Inc. now owns 2,085,847 shares of the insurance provider’s stock valued at $38,984,000 after purchasing an additional 757,490 shares during the period. IndexIQ Advisors LLC increased its position in shares of Radian Group by 83.1% during the third quarter. IndexIQ Advisors LLC now owns 48,260 shares of the insurance provider’s stock valued at $902,000 after purchasing an additional 21,904 shares during the period. Canada Pension Plan Investment Board boosted its stake in Radian Group by 28.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 126,200 shares of the insurance provider’s stock valued at $2,359,000 after buying an additional 28,100 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Radian Group by 45.8% in the 3rd quarter. Nordea Investment Management AB now owns 639,207 shares of the insurance provider’s stock valued at $11,947,000 after buying an additional 200,673 shares in the last quarter. Institutional investors and hedge funds own 91.66% of the company’s stock.
Several research analysts have commented on RDN shares. Wells Fargo & Co started coverage on Radian Group in a research report on Tuesday, November 28th. They issued a “market perform” rating and a $22.00 price target on the stock. Deutsche Bank downgraded Radian Group from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Friday, November 3rd. Zacks Investment Research raised Radian Group from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a research report on Thursday, January 4th. B. Riley reaffirmed a “buy” rating on shares of Radian Group in a research report on Monday, November 6th. Finally, Royal Bank of Canada started coverage on Radian Group in a research report on Wednesday, December 20th. They issued an “outperform” rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Radian Group currently has an average rating of “Buy” and a consensus target price of $24.68.
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About Radian Group
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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