In this article, we discuss the top 5 stock picks of Brian Higgins’ King Street Capital. If you want our detailed analysis of these stocks, go directly to Brian Higgins’ King Street Capital Portfolio: Top 10 Stock Picks.
5. Radian Group Inc. (NYSE:RDN)
King Street Capital’s Stake Value: $57,368,000
Percentage of King Street Capital’s 13F Portfolio: 4.84%
Number of Hedge Fund Holders: 27
Radian Group Inc. (NYSE:RDN), a mortgage and real estate insurance company, is one of Brian Higgins’ top stock picks from the third quarter, with his firm owning 2.52 million shares in Radian Group Inc. (NYSE:RDN), worth $57.36 million. The stock accounts for 4.84% of King Street Capital’s Q3 portfolio.
Radian Group Inc. (NYSE:RDN), on November 2, posted Q3 earnings. EPS for the quarter came in at $0.67, missing analysts’ consensus estimates by -$0.04. The $325.76 million revenue was down 13.19% as compared to the prior-year quarter, missing estimated revenue by -$10.46 million.
BofA analyst Mihir Bhatia downgraded Radian Group Inc. (NYSE:RDN) on November 17 to Underperform from Buy with a $22.50 price target as part of a broader view on the mortgage insurance sector.
Richard Mashaal’s Rima Senvest Management is the leading Radian Group Inc. (NYSE:RDN) stakeholder as of Q3, with a $76.3 million position in the company. Overall, 27 hedge funds in the database of 867 elite funds tracked by Insider Monkey were bullish on Radian Group Inc. (NYSE:RDN), down from 30 funds in Q2.