MBIA, Inc. (MBI) Holdings Raised by Hosking Partners LLP
Hosking Partners LLP boosted its stake in shares of MBIA, Inc. (NYSE:MBI) by 0.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,894,581 shares of the insurance provider’s stock after purchasing an additional 24,425 shares during the quarter. MBIA comprises 1.3% of Hosking Partners LLP’s portfolio, making the stock its 20th largest holding. Hosking Partners LLP owned approximately 4.68% of MBIA worth $51,283,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Financial Partners Capital Management LLC boosted its position in MBIA by 12.4% during the second quarter. Financial Partners Capital Management LLC now owns 11,294 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 1,250 shares during the period. Tower Research Capital LLC TRC bought a new stake in MBIA during the second quarter worth approximately $116,000. Nine Chapters Capital Management LLC bought a new stake in MBIA during the third quarter worth approximately $111,000. Intl Fcstone Inc. bought a new stake in MBIA during the second quarter worth approximately $127,000. Finally, Prudential Financial Inc. lifted its holdings in shares of MBIA by 2.7% during the second quarter. Prudential Financial Inc. now owns 14,415 shares of the insurance provider’s stock worth $136,000 after buying an additional 380 shares during the last quarter.
Shares of MBIA, Inc. (NYSE:MBI) traded down $0.12 during midday trading on Monday, hitting $8.37. The company had a trading volume of 733,500 shares, compared to its average volume of 2,578,815. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.09 and a quick ratio of 2.09. MBIA, Inc. has a twelve month low of $6.04 and a twelve month high of $11.65.
MBIA (NYSE:MBI) last issued its earnings results on Tuesday, November 7th. The insurance provider reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($1.01). The company had revenue of $33.00 million during the quarter, compared to analyst estimates of $85.85 million. The company’s quarterly revenue was down 83.7% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS.
MBIA declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 7th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
A number of research analysts have recently commented on MBI shares. ValuEngine lowered MBIA from a “buy” rating to a “hold” rating in a report on Friday, October 20th. BidaskClub lowered MBIA from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. BTIG Research reiterated a “buy” rating and set a $14.00 price target on shares of MBIA in a report on Wednesday, September 6th. Finally, MKM Partners reiterated a “buy” rating and set a $15.00 price target on shares of MBIA in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $14.50.
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MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.
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