Wolf Hill Capital Management LP grew its holdings in MBIA, Inc. (NYSE:MBI – Free Report) by 4.5% in the 4th quarter, Holdings Channel reports. The fund owned 2,560,708 shares of the insurance provider’s stock after purchasing an additional 110,544 shares during the quarter. MBIA comprises 2.0% of Wolf Hill Capital Management LP’s portfolio, making the stock its 13th biggest holding. Wolf Hill Capital Management LP owned approximately 0.05% of MBIA worth $18,335,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of MBI. AQR Capital Management LLC bought a new stake in shares of MBIA in the first quarter valued at approximately $120,000. Jane Street Group LLC boosted its position in shares of MBIA by 463.0% in the first quarter. Jane Street Group LLC now owns 54,086 shares of the insurance provider’s stock valued at $269,000 after acquiring an additional 68,986 shares during the period. Geode Capital Management LLC boosted its position in shares of MBIA by 1.4% in the second quarter. Geode Capital Management LLC now owns 1,043,095 shares of the insurance provider’s stock valued at $4,528,000 after acquiring an additional 14,336 shares during the period. Rhumbline Advisers boosted its position in shares of 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 acquiring an additional 3,626 shares during the period. Finally, Invesco Ltd. boosted its position in shares of MBIA by 36.1% in the second 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. 60.95% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently commented on MBI. Keefe, Bruyette & Woods cut their target price on MBIA from $8.50 to $7.50 and set an “outperform” rating for the company in a research note on Thursday, March 19th. Wall Street Zen upgraded MBIA from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MBIA in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.50.
MBIA Trading Up 0.2%
NYSE MBI opened at $6.19 on Monday. The stock’s 50 day moving average is $5.99 and its two-hundred day moving average is $6.44. The company has a market capitalization of $315.00 million, a price-to-earnings ratio of -2.00 and a beta of 1.64. MBIA, Inc. has a 1-year low of $4.11 and a 1-year high of $8.26.
MBIA (NYSE:MBI – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $24.00 million during the quarter, compared to the consensus estimate of $5.80 million. On average, analysts predict that MBIA, Inc. will post -0.29 earnings per share for the current year.
MBIA Company Profile
MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.
Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.
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