Formula Growth Ltd buys $13,606,644 stake in Radian Group Inc (RDN)

Radian Group Inc (RDN) : Formula Growth Ltd scooped up 280,000 additional shares in Radian Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 946,220 shares of Radian Group Inc which is valued at $13,606,644.Radian Group Inc makes up approximately 3.17% of Formula Growth Ltd’s portfolio.

Other Hedge Funds, Including , Price T Rowe Associates Inc Md boosted its stake in RDN in the latest quarter, The investment management firm added 1,249,902 additional shares and now holds a total of 9,829,872 shares of Radian Group Inc which is valued at $139,879,079. Radian Group Inc makes up approx 0.03% of Price T Rowe Associates Inc Md’s portfolio. Denver Investment Advisors added RDN to its portfolio by purchasing 1,495,804 company shares during the most recent quarter which is valued at $21,315,207. Radian Group Inc makes up approx 0.92% of Denver Investment Advisors’s portfolio.Cipher Capital Lp boosted its stake in RDN in the latest quarter, The investment management firm added 17,592 additional shares and now holds a total of 85,483 shares of Radian Group Inc which is valued at $1,218,133. Radian Group Inc makes up approx 0.08% of Cipher Capital Lp’s portfolio.

Radian Group Inc closed down -0.1 points or -0.68% at $14.67 with 20,12,233 shares getting traded on Monday. Post opening the session at $14.8, the shares hit an intraday low of $14.61 and an intraday high of $14.815 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Radian Group Inc reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.39. The company had revenue of $320.90 million for the quarter, compared to analysts expectations of $304.62 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on Radian Group Inc. Radian Group Inc was Initiated by BofA/Merrill to “Buy” on Oct 17, 2016.

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 Company’s 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.

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