MBIA Sees Unusually High Options Volume (MBI)
MBIA, Inc. (NYSE:MBI) saw some unusual options trading activity on Thursday. Traders purchased 45,386 put options on the company. This represents an increase of 6,042% compared to the typical volume of 739 put options.
MBIA (NYSE:MBI) opened at $7.45 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.09 and a current ratio of 2.09. MBIA has a 12-month low of $6.04 and a 12-month high of $11.65. The stock has a market capitalization of $686.66, a P/E ratio of -0.51 and a beta of 2.46.
MBIA (NYSE:MBI) last issued its quarterly earnings data on Tuesday, November 7th. The insurance provider reported ($0.91) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($1.01). The company had revenue of $33.00 million during the quarter, compared to analysts’ expectations of $85.85 million. During the same period in the prior year, the company earned $0.23 EPS. MBIA’s revenue was down 83.7% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the stock. MKM Partners reiterated a “buy” rating on shares of MBIA in a research report on Thursday, October 5th. ValuEngine upgraded shares of MBIA from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. MBIA presently has an average rating of “Buy” and a consensus price target of $14.50.
In related news, Director Joseph W. Brown purchased 50,000 shares of MBIA stock in a transaction dated Tuesday, December 19th. The stock was bought at an average cost of $7.25 per share, for a total transaction of $362,500.00. Following the transaction, the director now owns 2,399,634 shares in the company, valued at $17,397,346.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.11% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of MBI. Schwab Charles Investment Management Inc. raised its position in shares of MBIA by 1.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,014,277 shares of the insurance provider’s stock worth $9,565,000 after purchasing an additional 16,259 shares during the last quarter. Prudential Financial Inc. raised its position in shares of MBIA by 2.7% during the 2nd quarter. Prudential Financial Inc. now owns 14,415 shares of the insurance provider’s stock worth $136,000 after purchasing an additional 380 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of MBIA by 43.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 34,365 shares of the insurance provider’s stock worth $324,000 after purchasing an additional 10,330 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of MBIA by 2.1% during the 2nd quarter. Alliancebernstein L.P. now owns 226,400 shares of the insurance provider’s stock worth $2,135,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of MBIA by 4.3% during the 2nd quarter. Teachers Advisors LLC now owns 229,678 shares of the insurance provider’s stock worth $2,166,000 after purchasing an additional 9,460 shares during the last quarter.
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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