321,000 Shares in MBIA, Inc. $MBI Acquired by Chou Associates Management Inc.

Chou Associates Management Inc. bought a new position in shares of MBIA, Inc. (NYSE:MBI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 321,000 shares of the insurance provider’s stock, valued at approximately $2,093,000. MBIA comprises approximately 1.0% of Chou Associates Management Inc.’s investment portfolio, making the stock its 18th largest holding.

A number of other large investors also recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake in shares of MBIA by 189.1% in the 1st quarter. Renaissance Technologies LLC now owns 409,892 shares of the insurance provider’s stock valued at $2,422,000 after purchasing an additional 268,100 shares during the period. Wolf Hill Capital Management LP grew its position in MBIA by 4.5% during the fourth quarter. Wolf Hill Capital Management LP now owns 2,560,708 shares of the insurance provider’s stock valued at $18,335,000 after buying an additional 110,544 shares during the period. Walleye Capital LLC increased its holdings in MBIA by 14.0% in the first quarter. Walleye Capital LLC now owns 91,801 shares of the insurance provider’s stock valued at $543,000 after buying an additional 11,255 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in MBIA in the first quarter valued at $187,000. Finally, Seelaus Asset Management LLC raised its position in shares of MBIA by 96.0% in the fourth quarter. Seelaus Asset Management LLC now owns 24,500 shares of the insurance provider’s stock worth $175,000 after acquiring an additional 12,000 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MBI shares. Keefe, Bruyette & Woods lowered their target price on shares of MBIA from $7.50 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBIA in a report on Friday, July 17th. Finally, Wall Street Zen upgraded MBIA from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.00.

MBIA Stock Up 1.7%

MBI opened at $4.90 on Friday. MBIA, Inc. has a twelve month low of $4.72 and a twelve month high of $8.26. The company has a 50-day moving average price of $5.86 and a 200 day moving average price of $6.00. The company has a market cap of $249.56 million, a PE ratio of -1.70 and a beta of 1.62.

MBIA (NYSE:MBI) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The company had revenue of $27.00 million for the quarter, compared to analysts’ expectations of $5.75 million. As a group, sell-side analysts expect that MBIA, Inc. will post -0.33 earnings per share for the current year.

About MBIA

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.