5 Stocks to Buy Under $50 According to Brian Higgins’ King Street Capital

2. Radian Group Inc. (NYSE:RDN)

Higgins’ Stake Value: $56 million

Percentage of Brian Higgins’ 13F Portfolio: 4.61%

Number of Hedge Fund Holders: 30

Stock Price as of October 6: $23.35

Radian Group Inc. (NYSE:RDN) is a Pennsylvania-based mortgage insurance company that provides leasing, risk management and other real estate services. The company ranks second on our list of the 10 stocks to buy under $50 according to Brian Higgins’ King Street Capital.

The hedge fund run by Higgins owns more than 2.52 million shares in the company worth over $56 million, representing 4.61% of its investment portfolio. By the end of the second quarter of 2021, 30 hedge funds out of the 873 tracked by Insider Monkey held stakes in Radian Group Inc. (NYSE:RDN) worth roughly $358.6 million. The number of hedge funds that held stakes within the company remained the same for the first and second quarters of 2021.

On June 23, Needham analyst Cullen Johnson raised his price target on Radian Group Inc. (NYSE:RDN) to $30 from $27, and reiterates a Buy rating on the shares of the company.

The company recently announced its second quarter earnings report for 2021 on August 3, with earnings per share of $0.75, beating the market estimates by $0.05. The company also reported revenues of $336.99 million, beating revenue predictions by $1.52 million.

Out of the hedge funds being tracked by Insider Monkey, New York-based Rima Senvest Management is a leading shareholder in Radian Group Inc. (NYSE:RDN), with 2.73 million shares worth $60.8 million.