MBIA Target of Unusually High Options Trading (MBI)
MBIA, Inc. (NYSE:MBI) was the target of some unusual options trading on Friday. Stock traders bought 22,779 put options on the company. This represents an increase of approximately 1,758% compared to the average volume of 1,226 put options.
A number of hedge funds have recently bought and sold shares of MBI. Envestnet Asset Management Inc. raised its position in shares of MBIA by 0.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 12,484 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 99 shares in the last quarter. Financial Partners Capital Management LLC boosted its stake in shares of MBIA by 12.4% during the 2nd quarter. Financial Partners Capital Management LLC now owns 11,294 shares of the insurance provider’s stock valued at $107,000 after buying an additional 1,250 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of MBIA during the 2nd quarter valued at approximately $116,000. Trexquant Investment LP purchased a new position in shares of MBIA during the 1st quarter valued at approximately $125,000. Finally, Intl Fcstone Inc. purchased a new position in shares of MBIA during the 2nd quarter valued at approximately $127,000. Institutional investors own 92.03% of the company’s stock.
MBIA (NYSE:MBI) opened at 8.68 on Wednesday. MBIA has a one year low of $7.14 and a one year high of $11.65. The firm’s market cap is $1.09 billion. The stock has a 50 day moving average of $9.90 and a 200 day moving average of $9.19.
MBIA (NYSE:MBI) last released its quarterly earnings results on Tuesday, August 8th. The insurance provider reported ($1.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($1.10). The company had revenue of $72.00 million during the quarter, compared to analyst estimates of $87.85 million. The business’s quarterly revenue was down 39.0% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. On average, equities analysts forecast that MBIA will post ($0.76) earnings per share for the current year.
MBIA announced that its board has initiated a stock repurchase program on Tuesday, June 27th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 21.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several equities research analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $14.00 target price on shares of MBIA in a research report on Tuesday, June 27th. BidaskClub upgraded MBIA from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $15.00 price target on shares of MBIA in a report on Friday, August 11th.
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MBIA Company Profile
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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