MBIA (NYSE:MBI) Releases Quarterly Earnings Results, Misses Expectations By $0.19 EPS

MBIA (NYSE:MBI) announced its quarterly earnings results on Thursday. The insurance provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.19), FiscalAI reports. The firm had revenue of $28.00 million for the quarter, compared to analysts’ expectations of $26.50 million.

MBIA Trading Up 0.2%

MBI traded up $0.01 during midday trading on Thursday, hitting $6.33. 398,124 shares of the company were exchanged, compared to its average volume of 339,415. The firm has a market capitalization of $319.60 million, a price-to-earnings ratio of -1.74 and a beta of 1.89. The company’s 50 day simple moving average is $6.66 and its 200 day simple moving average is $7.08. MBIA has a 1-year low of $3.86 and a 1-year high of $8.26.

Analysts Set New Price Targets

A number of analysts have weighed in on MBI shares. Wall Street Zen upgraded MBIA from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBIA in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of MBIA from $8.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MBIA has a consensus rating of “Hold” and a consensus price target of $8.50.

Institutional Trading of MBIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of MBIA by 20.2% in the fourth quarter. Invesco Ltd. now owns 62,437 shares of the insurance provider’s stock worth $447,000 after acquiring an additional 10,492 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in MBIA in the 4th quarter worth about $113,000. XTX Topco Ltd purchased a new position in MBIA during the fourth quarter worth approximately $208,000. Tudor Investment Corp ET AL grew its holdings in MBIA by 453.9% in the fourth quarter. Tudor Investment Corp ET AL now owns 249,048 shares of the insurance provider’s stock valued at $1,783,000 after purchasing an additional 204,083 shares during the period. Finally, Millennium Management LLC increased its position in shares of MBIA by 8.7% in the fourth quarter. Millennium Management LLC now owns 43,823 shares of the insurance provider’s stock valued at $314,000 after buying an additional 3,509 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

MBIA Company Profile

MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.

Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.