MBIA (NYSE:MBI) Releases Earnings Results, Misses Expectations By $0.12 EPS

MBIA (NYSE:MBI) posted its quarterly earnings results on Tuesday. The insurance provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.12), Zacks reports.

MBIA Trading Up 0.2%

MBI stock traded up $0.01 during midday trading on Tuesday, hitting $6.78. 200,641 shares of the company’s stock were exchanged, compared to its average volume of 347,888. MBIA has a 1-year low of $3.75 and a 1-year high of $8.26. The stock has a market capitalization of $342.52 million, a PE ratio of -1.46 and a beta of 1.83. The business has a 50-day simple moving average of $7.28 and a two-hundred day simple moving average of $5.76.

Analysts Set New Price Targets

A number of research firms have commented on MBI. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBIA in a report on Wednesday, October 8th. Wall Street Zen downgraded MBIA from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MBIA presently has an average rating of “Hold” and a consensus price target of $8.00.

Institutional Trading of MBIA

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its position in MBIA by 5.5% in the second quarter. Rhumbline Advisers now owns 69,789 shares of the insurance provider’s stock valued at $303,000 after buying an additional 3,626 shares during the last quarter. Militia Capital Partners LP increased its position in shares of MBIA by 18.8% during the second quarter. Militia Capital Partners LP now owns 39,800 shares of the insurance provider’s stock valued at $173,000 after acquiring an additional 6,300 shares during the last quarter. Invesco Ltd. raised its stake in shares of MBIA by 36.1% in the 2nd quarter. Invesco Ltd. now owns 41,442 shares of the insurance provider’s stock valued at $180,000 after acquiring an additional 10,989 shares during the period. Geode Capital Management LLC lifted its holdings in shares of MBIA by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,043,095 shares of the insurance provider’s stock worth $4,528,000 after acquiring an additional 14,336 shares during the last quarter. Finally, Whitebox Advisors LLC boosted its position in shares of MBIA by 7.7% during the 2nd quarter. Whitebox Advisors LLC now owns 317,106 shares of the insurance provider’s stock worth $1,376,000 after purchasing an additional 22,675 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

About MBIA

MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (U.S.) Public Finance Insurance, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of the U.S.