Analysts at Zacks Investment Research downgraded shares of Radian Group Inc. (NYSE: RDN) from Hold to Sell in a research note to investors today. Zacks Investment Research currently has a rating of Sell on the stock. The one-year price target of $16.95 is above the opening price of $13.58, that has caused a fair amount of other analysts to comment on the stock in recent days. Looking back over the last year, Radian Group Inc. stock has a high of $17.00. Material and fundamental digressions in the company’s operations, future direction or industry can cause downgrades as the analysts believe that the future prospects for the security have weakened from the initial recommendation.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Radian Group Inc. (NYSE: RDN) opened at $13.58 yesterday and traded in a range between, $13.57 and $13.74, and last traded at $13.69, a spike of $0.16 from the previous closing price.
Radian Group Inc. (NYSE: RDN) now has a market cap of 2.93B.
The stock’s average daily volume is 2,677,790 shares out of a total float 199,150,000 and some 1,744,125 shares traded hands yesterday, below the norm. Investors often use swings in trading volume to pinpoint large volume aggregation or circulation by institutional investors, so trading volume is likely to increase in the next few days.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks expresses a positive signal to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Traders can make more impactful decisions on trades when they track the trading habits of professional investors.
Trades for Radian Group Inc. (NYSE: RDN) have ranged from $9.29 – 17.00, and the stock now has a 50-day MA of $13.46 and 200-day MA of $12.23. Today’s last price is 0.19% under the 52 week high of $17.00.
Earnings growth is a crucial factor to consider when buying stocks and investors identify companies that have been successful at growing their earnings by at least 25% for the past 3 years.
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