MBIA (NYSE:MBI – Get Free Report) announced its earnings results on Thursday. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02), FiscalAI reports. The business had revenue of $27.00 million during the quarter, compared to analyst estimates of $5.75 million.
MBIA Stock Down 3.0%
NYSE:MBI traded down $0.16 during trading hours on Friday, hitting $5.12. 1,177,236 shares of the stock traded hands, compared to its average volume of 424,514. The company has a market cap of $260.97 million, a price-to-earnings ratio of -1.77 and a beta of 1.62. MBIA has a 1 year low of $4.87 and a 1 year high of $8.26. The stock has a 50 day moving average price of $6.06 and a 200 day moving average price of $6.11.
Institutional Trading of MBIA
Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in MBIA in the 3rd quarter worth $37,000. Dynamic Technology Lab Private Ltd purchased a new stake in MBIA in the 3rd quarter worth $77,000. AQR Capital Management LLC bought a new stake in MBIA during the fourth quarter valued at about $83,000. State of Wyoming bought a new stake in MBIA during the second quarter valued at about $101,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of MBIA in the fourth quarter valued at about $113,000. 60.95% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Check Out Our Latest Analysis on MBIA
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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