BlueCrest Capital Management Ltd Purchases Shares of 139,402 MBIA Inc. (MBI)
BlueCrest Capital Management Ltd purchased a new stake in MBIA Inc. (NYSE:MBI) in the 4th quarter, HoldingsChannel reports. The fund purchased 139,402 shares of the insurance provider’s stock, valued at approximately $1,020,000.
A number of other hedge funds have also added to or reduced their stakes in MBI. Fine Capital Partners L.P. raised its position in MBIA by 88.9% in the 3rd quarter. Fine Capital Partners L.P. now owns 8,726,432 shares of the insurance provider’s stock valued at $75,920,000 after purchasing an additional 4,105,792 shares during the last quarter. Russell Investments Group Ltd. raised its position in MBIA by 472.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,034,395 shares of the insurance provider’s stock valued at $17,699,000 after purchasing an additional 1,679,114 shares during the last quarter. OppenheimerFunds Inc. raised its position in MBIA by 20.2% in the 4th quarter. OppenheimerFunds Inc. now owns 6,298,113 shares of the insurance provider’s stock valued at $46,102,000 after purchasing an additional 1,060,304 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in MBIA in the 3rd quarter valued at $7,938,000. Finally, X Square Capital LLC purchased a new stake in MBIA in the 4th quarter valued at $5,597,000.
A number of brokerages have commented on MBI. ValuEngine upgraded shares of MBIA from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Keefe, Bruyette & Woods began coverage on shares of MBIA in a research report on Monday, February 5th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. MBIA has a consensus rating of “Hold” and a consensus price target of $14.50.
MBIA (NYSE:MBI) last announced its quarterly earnings data on Thursday, March 1st. The insurance provider reported ($1.52) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($1.61). The firm had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $76.19 million. MBIA had a negative return on equity of 19.69% and a negative net margin of 370.67%. The firm’s quarterly revenue was down 525.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS.
In other news, Director Joseph W. Brown acquired 50,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was bought at an average price 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.11% of the stock is currently owned by corporate insiders.
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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