Radian Group Inc. (NYSE:RDN) Short Interest Up 57.3% in April

Radian Group Inc. (NYSE:RDNGet Rating) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 6,700,000 shares, a growth of 57.3% from the April 15th total of 4,260,000 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average trading volume of 2,030,000 shares, the days-to-cover ratio is presently 3.3 days.

Several institutional investors have recently added to or reduced their stakes in RDN. Morgan Stanley boosted its position in shares of Radian Group by 19.4% in the 2nd quarter. Morgan Stanley now owns 2,046,534 shares of the insurance provider’s stock worth $45,535,000 after buying an additional 332,203 shares in the last quarter. Deutsche Bank AG lifted its holdings in Radian Group by 7.2% in the 3rd quarter. Deutsche Bank AG now owns 145,174 shares of the insurance provider’s stock valued at $3,298,000 after purchasing an additional 9,808 shares in the last quarter. Barclays PLC lifted its holdings in Radian Group by 136.0% in the 3rd quarter. Barclays PLC now owns 199,498 shares of the insurance provider’s stock valued at $4,531,000 after purchasing an additional 114,967 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Radian Group by 20.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 30,878 shares of the insurance provider’s stock valued at $702,000 after purchasing an additional 5,271 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Radian Group by 13.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 6,805 shares of the insurance provider’s stock valued at $155,000 after purchasing an additional 806 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

NYSE RDN traded up $0.35 during mid-day trading on Friday, reaching $21.19. 1,014,200 shares of the stock were exchanged, compared to its average volume of 1,372,891. The company has a market capitalization of $3.66 billion, a P/E ratio of 5.97, a P/E/G ratio of 1.18 and a beta of 1.22. Radian Group has a 1 year low of $19.17 and a 1 year high of $24.84. The business’s 50 day moving average is $22.20 and its 200-day moving average is $22.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.07.

Radian Group (NYSE:RDNGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $0.76 by $0.41. Radian Group had a net margin of 50.71% and a return on equity of 17.18%. The business had revenue of $292.98 million for the quarter, compared to analyst estimates of $318.22 million. During the same period in the previous year, the firm earned $0.68 EPS. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. Equities analysts predict that Radian Group will post 3.6 earnings per share for the current fiscal year.

Radian Group announced that its board has approved a stock repurchase program on Wednesday, February 9th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Monday, May 23rd will be given a $0.20 dividend. The ex-dividend date is Friday, May 20th. This represents a $0.80 annualized dividend and a dividend yield of 3.78%. Radian Group’s dividend payout ratio is presently 22.54%.

RDN has been the topic of a number of research reports. BTIG Research cut their price objective on shares of Radian Group from $28.00 to $26.00 in a research note on Tuesday, April 12th. StockNews.com lowered shares of Radian Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $27.58.

Radian Group Company Profile (Get Rating)

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. Its Mortgage segment offers credit-related insurance coverage primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management, contract underwriting, and fulfillment solutions.

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