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

MBIA (NYSE:MBI) issued its quarterly earnings data on Tuesday, November 4th. The insurance provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12), Zacks reports. The firm had revenue of $13.00 million for the quarter, compared to analyst estimates of $21.00 million.

MBIA Price Performance

MBI traded down $0.08 during mid-day trading on Thursday, hitting $7.60. The stock had a trading volume of 90,812 shares, compared to its average volume of 345,020. MBIA has a 1-year low of $3.86 and a 1-year high of $8.26. The firm has a market capitalization of $383.75 million, a price-to-earnings ratio of -2.09 and a beta of 1.89. The stock’s fifty day simple moving average is $7.21 and its 200-day simple moving average is $6.18.

Analyst Upgrades and Downgrades

MBI has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of MBIA from $8.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Weiss Ratings restated a “sell (d-)” rating on shares of MBIA in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of MBIA from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MBIA currently has a consensus rating of “Hold” and a consensus target price of $8.50.

Hedge Funds Weigh In On MBIA

Several institutional investors and hedge funds have recently modified their holdings of MBI. Quarry LP bought a new position in MBIA in the third quarter valued at approximately $37,000. Dynamic Technology Lab Private Ltd bought a new stake in MBIA in the 3rd quarter valued at $77,000. State of Wyoming bought a new stake in MBIA in the 2nd quarter valued at $101,000. AQR Capital Management LLC acquired a new position in MBIA in the 1st quarter worth $120,000. Finally, Militia Capital Partners LP boosted its stake in MBIA by 18.8% in the 2nd quarter. Militia Capital Partners LP now owns 39,800 shares of the insurance provider’s stock worth $173,000 after purchasing an additional 6,300 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

About MBIA

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.