MBIA (NYSE:MBI) Issues Quarterly Earnings Results, Misses Expectations By $0.19 EPS

MBIA (NYSE:MBI) posted its quarterly earnings data on Thursday. The insurance provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19), FiscalAI reports. The business had revenue of $28.00 million for the quarter, compared to the consensus estimate of $26.50 million.

MBIA Trading Up 0.2%

MBI stock traded up $0.01 during mid-day trading on Thursday, reaching $6.33. The company’s stock had a trading volume of 398,124 shares, compared to its average volume of 339,415. The stock has a market cap of $319.60 million, a PE ratio of -1.74 and a beta of 1.89. The company’s 50 day moving average is $6.66 and its two-hundred day moving average is $7.08. MBIA has a fifty-two week low of $3.86 and a fifty-two week high of $8.26.

Analyst Ratings Changes

Several research analysts recently weighed in on MBI shares. Weiss Ratings restated a “sell (d-)” rating on shares of MBIA in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on MBIA from $8.00 to $8.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Finally, Wall Street Zen upgraded MBIA from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.50.

Hedge Funds Weigh In On MBIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in MBIA in the third quarter valued at approximately $37,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of MBIA in the 3rd quarter valued at $77,000. AQR Capital Management LLC acquired a new position in MBIA during the 4th quarter worth about $83,000. Mercer Global Advisors Inc. ADV acquired a new position in MBIA during the 4th quarter worth about $113,000. Finally, Engineers Gate Manager LP purchased a new position in MBIA during the 4th quarter valued at about $137,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.