Radian Group (RDN) stock is expected to deviate a maximum of $1.74 from the average target price of $15.08 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $17 and the most muted being $12.
Radian Group (RDN) reported a rise of 25.2% or 2,280,466 shares in its short interest. The short figure came in at 5.3% of the total floats. The average daily volume of 3,992,546 shares suggests that the days to cover 11,325,666 short positions, as on June 30,2016, will be 3. On June 15,2016, the short interest was 9,045,200 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Equity analysts at the Brokerage firm FBR Capital upgrades its rating on Radian Group (NYSE:RDN). The rating major has initiated the coverage with outperform rating on the shares. Earlier, the shares were rated a Market Perform by the brokerage firm. The rating by the firm was issued on June 30, 2016.
Radian Group (NYSE:RDN): stock turned positive on Thursday. Though the stock opened at $11.93, the bulls momentum made the stock top out at $12.18 level for the day. The stock recorded a low of $11.91 and closed the trading day at $12.12, in the green by 3.32%. The total traded volume for the day was 4,622,954. The stock had closed at $11.73 in the previous days trading.
Radian Group Inc. provides mortgage insurance on domestic residential First-liens and other products and services. The Company operates in two business segments: mortgage insurance and MRES. The mortgage insurance segment provides credit-related insurance coverage, principally through private mortgage insurance, to mortgage lending institutions. The Company conducts mortgage insurance business primarily through Radian Guaranty, the Companys principal mortgage insurance subsidiary. The MRES segment provides services and solutions to the mortgage and real estate industries primarily through Clayton. The Company also provides direct insurance and reinsurance on credit-based risks through Radian Asset Assurance, its principal financial guaranty subsidiary that is a wholly owned subsidiary of Radian Guaranty. Its customers are mortgage originators, such as mortgage bankers, mortgage brokers, commercial banks, savings institutions, credit unions and community banks.