Valueworks LLC Takes $12.83 Million Position in MBIA, Inc. $MBI

Valueworks LLC bought a new stake in MBIA, Inc. (NYSE:MBI) in the second quarter, HoldingsChannel.com reports. The firm bought 1,967,228 shares of the insurance provider’s stock, valued at approximately $12,826,000. MBIA accounts for 2.7% of Valueworks LLC’s portfolio, making the stock its 17th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of MBI. BlackRock Inc. purchased a new stake in MBIA during the 2nd quarter worth about $23,949,000. Wolf Hill Capital Management LP purchased a new position in shares of MBIA in the 2nd quarter valued at about $13,809,451,000. UBS Group AG grew its position in shares of MBIA by 72.9% during the third quarter. UBS Group AG now owns 1,026,406 shares of the insurance provider’s stock worth $7,647,000 after buying an additional 432,906 shares in the last quarter. Chou Associates Management Inc. acquired a new position in shares of MBIA during the second quarter worth about $2,093,000. Finally, Marshall Wace LLP increased its stake 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 buying an additional 270,192 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

MBIA Price Performance

MBIA stock opened at $4.79 on Friday. MBIA, Inc. has a 1-year low of $4.72 and a 1-year high of $8.25. The stock has a market cap of $244.21 million, a PE ratio of -1.66 and a beta of 1.62. The stock’s fifty day moving average is $5.76 and its two-hundred day moving average is $5.95.

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