Radian Group Inc. (RDN) Short Interest Update
Radian Group Inc. (NYSE:RDN) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 7,707,687 shares, a decline of 18.6% from the August 31st total of 9,463,109 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average daily trading volume, of 2,323,205 shares, the short-interest ratio is presently 3.3 days.
RDN has been the subject of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $22.00 target price on shares of Radian Group in a research report on Wednesday, July 6th. Zacks Investment Research raised Radian Group from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Tuesday, June 28th. TheStreet upgraded Radian Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Finally, FBR & Co reiterated a “market perform” rating and set a $14.00 price target on shares of Radian Group in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $17.00.
In other news, EVP Derek Brummer bought 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was acquired at an average cost of $12.87 per share, with a total value of $205,920.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.83% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. FFT Wealth Management LLC increased its position in Radian Group by 5.5% in the first quarter. FFT Wealth Management LLC now owns 41,072 shares of the company’s stock worth $509,000 after buying an additional 2,128 shares during the last quarter. AMP Capital Investors Ltd bought a new position in Radian Group during the first quarter worth about $473,000. Renaissance Technologies LLC increased its position in Radian Group by 19.8% in the first quarter. Renaissance Technologies LLC now owns 1,171,300 shares of the company’s stock worth $14,524,000 after buying an additional 193,300 shares during the last quarter. HBK Investments L P increased its position in Radian Group by 316.9% in the first quarter. HBK Investments L P now owns 64,197 shares of the company’s stock worth $796,000 after buying an additional 48,797 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Radian Group by 14.0% in the first quarter. Geode Capital Management LLC now owns 1,419,498 shares of the company’s stock worth $17,601,000 after buying an additional 174,324 shares during the last quarter. 93.38% of the stock is owned by institutional investors.
Radian Group (NYSE:RDN) opened at 13.46 on Thursday. Radian Group has a 52 week low of $9.29 and a 52 week high of $17.00. The stock has a 50 day moving average price of $13.63 and a 200-day moving average price of $12.34. The stock has a market cap of $2.89 billion, a P/E ratio of 10.09 and a beta of 2.01.
Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.38. Radian Group had a net margin of 25.42% and a return on equity of 12.64%. The company earned $330.20 million during the quarter, compared to the consensus estimate of $224.68 million. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, equities analysts anticipate that Radian Group will post $1.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Monday, August 22nd were paid a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date of this dividend was Thursday, August 18th. Radian Group’s payout ratio is currently 0.75%.
Radian Group Company Profile
Radian Group Inc is a 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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