As industrywide interest jumped, key hedge funds have jumped into Radian Group Inc (NYSE:RDN) headfirst. Stevens Capital Management, managed by Matthew Tewksbury, established the most outsized position in Radian Group Inc (NYSE:RDN). Stevens Capital Management had $3.4 million invested in the company at the end of the quarter. Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital also initiated a $1.5 million position during the quarter. The following funds were also among the new RDN investors: George Hall’s Clinton Group, Jacob Gottlieb’s Visium Asset Management, and Matthew Hulsizer’s PEAK6 Capital Management.
Let’s check out hedge fund activity in other stocks similar to Radian Group Inc (NYSE:RDN). We will take a look at Corelogic Inc (NYSE:CLGX), ENSCO PLC (NYSE:ESV), First Horizon National Corporation (NYSE:FHN), and AngloGold Ashanti Limited (ADR) (NYSE:AU). This group of stocks’ market values are closest to RDN’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $333 million. That figure was $864 million in RDN’s case. Corelogic Inc (NYSE:CLGX) and ENSCO PLC (NYSE:ESV) are the most popular stocks in this table with a total of 29 funds reporting long positions. On the other hand AngloGold Ashanti Limited (ADR) (NYSE:AU) is the least popular one with only 15 bullish hedge fund positions. Compared to these stocks Radian Group Inc (NYSE:RDN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.