MBIA (NYSE:MBI) Announces Earnings Results, Misses Estimates By $0.02 EPS

MBIA (NYSE:MBI) issued its quarterly earnings data on Thursday. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02), FiscalAI reports. The company had revenue of $27.00 million for the quarter, compared to analysts’ expectations of $5.75 million.

MBIA Price Performance

MBI traded down $0.16 during trading on Friday, reaching $5.12. The company had a trading volume of 1,177,236 shares, compared to its average volume of 424,514. The company has a market cap of $260.97 million, a P/E ratio of -1.77 and a beta of 1.62. MBIA has a 12 month low of $4.87 and a 12 month high of $8.26. The business’s fifty day moving average price is $6.06 and its 200 day moving average price is $6.11.

Institutional Investors Weigh In On MBIA

A number of hedge funds and other institutional investors have recently made changes to their positions in MBI. Geode Capital Management LLC lifted its position in MBIA by 1.4% in the 2nd 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 in the last quarter. UBS Group AG increased its holdings in MBIA by 72.9% during the 3rd quarter. UBS Group AG now owns 1,026,406 shares of the insurance provider’s stock worth $7,647,000 after purchasing an additional 432,906 shares in the last quarter. Marshall Wace LLP raised its stake in shares of MBIA by 184.1% in the 2nd quarter. Marshall Wace LLP now owns 416,964 shares of the insurance provider’s stock valued at $1,810,000 after purchasing an additional 270,192 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of MBIA by 20.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 338,592 shares of the insurance provider’s stock valued at $2,424,000 after purchasing an additional 57,970 shares during the period. Finally, Whitebox Advisors LLC raised its stake in shares of MBIA by 7.7% in the 2nd quarter. Whitebox Advisors LLC now owns 317,106 shares of the insurance provider’s stock valued at $1,376,000 after purchasing an additional 22,675 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on MBI shares. Wall Street Zen raised MBIA from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBIA in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.50.

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.