MBIA (NYSE:MBI) Announces Earnings Results, Misses Estimates By $0.12 EPS

MBIA (NYSE:MBI) posted its earnings results on Tuesday. The insurance provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12), Zacks reports.

MBIA Price Performance

NYSE:MBI traded up $0.01 during trading hours on Tuesday, hitting $6.78. 200,641 shares of the company were exchanged, compared to its average volume of 347,888. The company’s 50 day moving average price is $7.28 and its 200-day moving average price is $5.76. The stock has a market capitalization of $342.52 million, a price-to-earnings ratio of -1.46 and a beta of 1.83. MBIA has a 52-week low of $3.75 and a 52-week high of $8.26.

Analysts Set New Price Targets

MBI has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of MBIA in a research report on Wednesday, October 8th. Wall Street Zen lowered MBIA from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MBIA has a consensus rating of “Hold” and an average price target of $8.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. State of Wyoming purchased a new position in shares of MBIA during the second quarter worth $101,000. Militia Capital Partners LP increased its stake in shares of MBIA by 18.8% in the 2nd quarter. Militia Capital Partners LP now owns 39,800 shares of the insurance provider’s stock valued at $173,000 after purchasing an additional 6,300 shares in the last quarter. Jane Street Group LLC raised its holdings in MBIA by 78.9% in the 2nd quarter. Jane Street Group LLC now owns 96,755 shares of the insurance provider’s stock worth $420,000 after purchasing an additional 42,669 shares during the period. Whitebox Advisors LLC lifted its position in shares of MBIA by 7.7% during the 2nd quarter. Whitebox Advisors LLC now owns 317,106 shares of the insurance provider’s stock valued at $1,376,000 after buying an additional 22,675 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in MBIA by 184.1% during the second 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 in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

MBIA Company Profile

MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (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.