Versor Investments LP acquired a new stake in shares of MBIA Inc. (NYSE:MBI – Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 21,700 shares of the insurance provider’s stock, valued at approximately $201,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in MBIA during the first quarter valued at $9,206,000. Millennium Management LLC boosted its holdings in shares of MBIA by 209.0% during the 4th quarter. Millennium Management LLC now owns 832,872 shares of the insurance provider’s stock valued at $10,702,000 after purchasing an additional 563,298 shares during the last quarter. Highland Peak Capital LLC purchased a new position in shares of MBIA during the fourth quarter valued at about $5,490,000. Madison Avenue Partners LP bought a new stake in shares of MBIA in the fourth quarter worth about $4,260,000. Finally, Hosking Partners LLP lifted its position in shares of MBIA by 17.9% in the fourth quarter. Hosking Partners LLP now owns 2,141,407 shares of the insurance provider’s stock worth $27,517,000 after buying an additional 324,519 shares in the last quarter. Institutional investors own 57.45% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on MBI. StockNews.com started coverage on MBIA in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Compass Point raised shares of MBIA from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, April 21st.
MBIA Price Performance
Shares of MBI stock opened at $8.46 on Friday. The company has a market cap of $439.41 million, a PE ratio of -1.68 and a beta of 1.21. MBIA Inc. has a 1 year low of $7.33 and a 1 year high of $14.00. The stock’s 50 day simple moving average is $8.61 and its two-hundred day simple moving average is $9.90.
MBIA (NYSE:MBI – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.21). The company had revenue of $28.00 million during the quarter, compared to the consensus estimate of $31.00 million. During the same quarter in the previous year, the firm earned ($0.93) EPS. Equities research analysts expect that MBIA Inc. will post -0.6 EPS for the current year.
About MBIA
MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through United States (U.S.) Public Finance Insurance, Corporate, 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.
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