Stock Traders Purchase High Volume of Call Options on MBIA (MBI)

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MBIA Inc. (NYSE:MBI) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 13,349 call options on the company. This represents an increase of approximately 1,714% compared to the average volume of 736 call options.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fine Capital Partners L.P. increased its position in shares of MBIA by 27.0% in the 4th quarter. Fine Capital Partners L.P. now owns 11,086,830 shares of the insurance provider’s stock worth $81,156,000 after purchasing an additional 2,360,398 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of MBIA by 20.2% in the 4th quarter. OppenheimerFunds Inc. now owns 6,298,113 shares of the insurance provider’s stock worth $46,102,000 after purchasing an additional 1,060,304 shares during the last quarter. Hosking Partners LLP increased its position in shares of MBIA by 2.5% in the 1st quarter. Hosking Partners LLP now owns 5,116,635 shares of the insurance provider’s stock worth $47,380,000 after purchasing an additional 123,103 shares during the last quarter. Kahn Brothers Group Inc. DE increased its position in shares of MBIA by 0.8% in the 1st quarter. Kahn Brothers Group Inc. DE now owns 4,625,960 shares of the insurance provider’s stock worth $42,836,000 after purchasing an additional 35,932 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of MBIA by 10.2% in the 4th quarter. Royce & Associates LP now owns 4,273,068 shares of the insurance provider’s stock worth $31,279,000 after purchasing an additional 396,351 shares during the last quarter.

Separately, ValuEngine lowered shares of MBIA from a “buy” rating to a “hold” rating in a report on Saturday, April 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. MBIA has a consensus rating of “Hold” and a consensus price target of $14.50.

MBI opened at $10.19 on Wednesday. MBIA has a 1-year low of $6.04 and a 1-year high of $10.97. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 2.34.

MBIA (NYSE:MBI) last released its earnings results on Wednesday, May 9th. The insurance provider reported ($0.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.40). The company had revenue of $73.00 million during the quarter, compared to the consensus estimate of $76.60 million. MBIA had a negative return on equity of 30.18% and a negative net margin of 380.19%. MBIA’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS.

About MBIA

MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through U.S. Public Finance Insurance, 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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