Bluefin Capital Management LLC Takes Position in MBIA, Inc. $MBI

Bluefin Capital Management LLC purchased a new position in shares of MBIA, Inc. (NYSE:MBI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 115,006 shares of the insurance provider’s stock, valued at approximately $750,000. Bluefin Capital Management LLC owned 0.23% of MBIA at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in MBIA during the 2nd quarter valued at about $23,949,000. Wolf Hill Capital Management LP bought a new position in MBIA in the 2nd quarter worth about $13,809,451,000. UBS Group AG grew its stake in MBIA by 72.9% in the 3rd quarter. UBS Group AG now owns 1,026,406 shares of the insurance provider’s stock worth $7,647,000 after acquiring an additional 432,906 shares in the last quarter. Chou Associates Management Inc. purchased a new position in shares of MBIA during the second quarter worth approximately $2,093,000. Finally, Marshall Wace LLP increased its position in shares of MBIA by 184.1% during the second quarter. Marshall Wace LLP now owns 416,964 shares of the insurance provider’s stock worth $1,810,000 after acquiring an additional 270,192 shares during the period. Institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

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

MBIA Price Performance

Shares of MBIA stock opened at $5.05 on Thursday. MBIA, Inc. has a 1 year low of $4.72 and a 1 year high of $8.26. The firm’s 50-day moving average is $5.78 and its two-hundred day moving average is $5.96. The stock has a market cap of $257.22 million, a price-to-earnings ratio of -1.75 and a beta of 1.62.

MBIA (NYSE:MBI) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The firm had revenue of $27.00 million for the quarter, compared to analyst estimates of $5.75 million. On average, equities analysts expect that MBIA, Inc. will post -0.33 earnings per share for the current year.

MBIA Company Profile

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.