Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Radian Group Inc. delivered robust financial results for the third quarter of 2024, with several key metrics showcasing growth and stability.</li><li>The company reported net income of $152 million, translating to $0.99 per diluted share.</li><li>Adjusted diluted net operating income was slightly higher at $1.03 per share, indicating a stable earnings environment.</li></ul>

Radian Group Inc. delivered robust financial results for the third quarter of 2024, with several key metrics showcasing growth and stability.The company reported net income of $152 million, translating to $0.99 per diluted share.Adjusted diluted net operating income was slightly higher at $1.03 per share, indicating a stable earnings environment.

Radian Group: These Are The 5 Biggest Challenges In Its Path! - Major Drivers

<ul><li>Radian Group Inc. has reported a robust set of results for the second quarter of 2024, indicating consistent progress across its primary sectors of business operations amidst a variable interest rate environment.</li><li>The highlights of the quarter included an increase in book value per share by 12% year-over-year, reaching $29.66, and a revenue surge to $321 million.</li><li>Additionally, the firm achieved a net income of $152 million.</li></ul>

Radian Group Inc. has reported a robust set of results for the second quarter of 2024, indicating consistent progress across its primary sectors of business operations amidst a variable interest rate environment.The highlights of the quarter included an increase in book value per share by 12% year-over-year, reaching $29.66, and a revenue surge to $321 million.Additionally, the firm achieved a net income of $152 million.

Radian Group Inc.: Investment in Growth and Diverse Revenue Streams! - Major Drivers

<ul><li>Radian Group reported encouraging financial outcomes for the first quarter of 2024, reflecting its strong operational core and effective strategy implementation.</li><li>The company witnessed a year-over year growth in its book value per share by 12%, with revenues increasing by 3% to $319 million.</li><li>The primary mortgage insurance in force rose by 4% to an all-time high of $271 billion, bolstering future earning prospects.</li></ul>

Radian Group reported encouraging financial outcomes for the first quarter of 2024, reflecting its strong operational core and effective strategy implementation.The company witnessed a year-over year growth in its book value per share by 12%, with revenues increasing by 3% to $319 million.The primary mortgage insurance in force rose by 4% to an all-time high of $271 billion, bolstering future earning prospects.

Radian Group Inc.: Initiation of Coverage - Improved Default Management and Cure Rates & Other Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Financial Select Sector SPDR F / Technical Analysis

<ul>
<li>Fitch's U.S. credit downgrade has done little to change the intermediate-term trend; we continue to believe the path of least resistance is higher for the major equity indexes.</li>
<li>We remain bullish on the S&amp;P 500, and we expect to see support at its 50-day MA moving forward (currently 4415).</li>
<li>Short term supports we are watching include 4460-4475 on the S&amp;P 500, $371.50 on the $QQQ, and $190-193 on the $IWM.</li>
</ul>


Fitch's U.S. credit downgrade has done little to change the intermediate-term trend; we continue to believe the path of least resistance is higher for the major equity indexes.
We remain bullish on the S&amp;P 500, and we expect to see support at its 50-day MA moving forward (currently 4415).
Short term supports we are watching include 4460-4475 on the S&amp;P 500, $371.50 on the $QQQ, and $190-193 on the $IWM.


Upgrading Financials to Market Weight; Shift to Value Continues. Buys in Energy, Financials, Mfg.

NASDAQ Composite Index / Technical Analysis

<ul>
<li>Since January 2023 we've anticipated for 4165-4200 to cap upside on the S&amp;P 500 for 2023, but that a rally to 4300-4325 is also possible; this remains our view.</li>
<li>In our 5/2/23 Compass we discussed how the Nasdaq Composite was testing 12,300 resistance, and that a breakout and reach to 13,180 is possible.</li>
<li>The Nasdaq Composite hit 13,154 Tuesday as Technology (XLK), and to a lesser extent Communications (XLC), are seemingly in a blowoff stage, while all other Sectors are neutral to bearish.</li>
</ul>


Since January 2023 we've anticipated for 4165-4200 to cap upside on the S&amp;P 500 for 2023, but that a rally to 4300-4325 is also possible; this remains our view.
In our 5/2/23 Compass we discussed how the Nasdaq Composite was testing 12,300 resistance, and that a breakout and reach to 13,180 is possible.
The Nasdaq Composite hit 13,154 Tuesday as Technology (XLK), and to a lesser extent Communications (XLC), are seemingly in a blowoff stage, while all other Sectors are neutral to bearish.


Downgrading Discretionary & Health Care to Market Weight, Staples & Utilities to Underweight

United States

Radian Group Inc. provides financial guarantee insurance.  The Company's products and services enable homebuyers to purchase homes more quickly and with smaller down payments, protect lenders against loan default, and lower the costs of mortgage origination and servicing.  Radian also provides insurance and reinsurance to investors in corporate, municipal, and asset-backed securities.

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Radian Group (RDN US)

Radian Group: These Are The 5 Biggest Challenges In Its Path! - Major Drivers

Radian Group Inc. delivered robust financial results for the third quarter of 2024, with several key metrics showcasing growth and stability. The...

Baptista Research

Radian Group Inc.: Investment in Growth and Diverse Revenue Streams! - Major Drivers

Radian Group Inc. has reported a robust set of results for the second quarter of 2024, indicating consistent progress across its primary sectors...

Baptista Research

Radian Group Inc.: Initiation of Coverage - Improved Default Management and Cure Rates & Other Major Drivers

Radian Group reported encouraging financial outcomes for the first quarter of 2024, reflecting its strong operational core and effective strategy...

Baptista Research

Upgrading Financials to Market Weight; Shift to Value Continues. Buys in Energy, Financials, Mfg.

Upgrading Financials $XLF to Market Weight; The Shift to Value Continues. Short term supports we are watching include 4460-4475 on the $SPX,...

Vermilion Research

Downgrading Discretionary & Health Care to Market Weight, Staples & Utilities to Underweight

5/2/23 we discussed how $Nasdaq Comp was testing 12,300 resistance, and that a breakout and reach to 13,180 was possible. It hit 13,154 Tuesday as...

Vermilion Research

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