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

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

MBIA Trading Down 0.3%

NYSE MBI traded down $0.02 during trading hours on Thursday, reaching $5.29. The company had a trading volume of 365,965 shares, compared to its average volume of 364,929. The stock has a 50-day moving average of $6.09 and a 200 day moving average of $6.12. MBIA has a 1-year low of $5.09 and a 1-year high of $8.26. The stock has a market capitalization of $269.64 million, a P/E ratio of -1.71 and a beta of 1.62.

Wall Street Analyst Weigh In

MBI has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of MBIA from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBIA in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.50.

Institutional Investors Weigh In On MBIA

A number of institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new position in shares of MBIA during the 4th quarter worth approximately $137,000. Balyasny Asset Management L.P. purchased a new stake in MBIA in the fourth quarter valued at approximately $203,000. Squarepoint Ops LLC raised its position in MBIA by 87.8% in the fourth quarter. Squarepoint Ops LLC now owns 25,659 shares of the insurance provider’s stock valued at $184,000 after purchasing an additional 11,994 shares during the period. State of Wyoming lifted its stake in MBIA by 240.0% during the fourth quarter. State of Wyoming now owns 27,425 shares of the insurance provider’s stock worth $196,000 after purchasing an additional 19,360 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in MBIA by 398.7% during the third quarter. BNP Paribas Financial Markets now owns 23,519 shares of the insurance provider’s stock worth $175,000 after purchasing an additional 18,803 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.