Third Avenue Management Makes Big Bet on Mortgage Insurer Radian Group (RDN)
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In a 13G on mortgage insurer Radian Group Inc. (NYSE: RDN), Third Avenue Management disclosed a 10.73% stake (8,627,037 shares) in the company. This is up from the 1,969,384 share stake the firm held at the quarter ended June 30, 2007.
Recently, Radian Group and MGIC Investment (NYSE: MTG) agreed to terminate their pending merger, citing current market conditions.
Third Avenue Management is managed by Martin Whitman, a highly respected value investor.
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