Proxima Capital Management LLC raised its stake in MBIA, Inc. (NYSE:MBI) by 33.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 805,000 shares of the insurance provider’s stock after acquiring an additional 204,000 shares during the period. MBIA makes up 4.1% of Proxima Capital Management LLC’s portfolio, making the stock its 8th largest holding. Proxima Capital Management LLC owned approximately 0.64% of MBIA worth $7,591,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings in 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 acquiring an additional 99 shares during the last quarter. Prudential Financial Inc. increased its holdings in MBIA by 2.7% in the 2nd quarter. Prudential Financial Inc. now owns 14,415 shares of the insurance provider’s stock valued at $136,000 after acquiring an additional 380 shares during the last quarter. Financial Partners Capital Management LLC increased its holdings in MBIA by 12.4% in the 2nd quarter. Financial Partners Capital Management LLC now owns 11,294 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 1,250 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in MBIA by 1.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 93,562 shares of the insurance provider’s stock valued at $792,000 after acquiring an additional 1,665 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in MBIA by 5.5% in the 2nd quarter. HighTower Advisors LLC now owns 32,652 shares of the insurance provider’s stock valued at $306,000 after acquiring an additional 1,693 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Shares of MBIA, Inc. (NYSE MBI) traded up 1.17% during mid-day trading on Friday, reaching $6.89. 2,041,303 shares of the company’s stock were exchanged. MBIA, Inc. has a 1-year low of $6.64 and a 1-year high of $11.65. The stock’s market capitalization is $866.87 million. The company’s 50 day moving average is $9.35 and its 200 day moving average is $9.14.

MBIA (NYSE:MBI) last issued its earnings results on Tuesday, August 8th. The insurance provider reported ($1.09) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($1.10). The firm had revenue of $72.00 million for the quarter, compared to analyst estimates of $87.85 million. The firm’s revenue was down 39.0% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. Equities research analysts anticipate that MBIA, Inc. will post ($0.76) EPS for the current fiscal year.

MBIA announced that its Board of Directors has approved a share buyback plan on Tuesday, June 27th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the insurance provider to repurchase up to 21.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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MBI has been the topic of a number of research reports. BidaskClub downgraded shares of MBIA from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. BTIG Research reiterated a “buy” rating and issued a $14.00 price target on shares of MBIA in a report on Wednesday, September 6th. Finally, MKM Partners reiterated a “buy” rating and issued a $15.00 price target on shares of MBIA in a report on Friday, August 11th.

About MBIA

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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Institutional Ownership by Quarter for MBIA (NYSE:MBI)

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