MBIA, Inc. $MBI Position Increased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its position in MBIA, Inc. (NYSE:MBI) by 189.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 409,892 shares of the insurance provider’s stock after buying an additional 268,100 shares during the quarter. Renaissance Technologies LLC’s holdings in MBIA were worth $2,422,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MBI. Wolf Hill Capital Management LP lifted its position in shares of MBIA by 4.5% in the 4th quarter. Wolf Hill Capital Management LP now owns 2,560,708 shares of the insurance provider’s stock valued at $18,335,000 after acquiring an additional 110,544 shares in the last quarter. Geode Capital Management LLC grew its position in MBIA by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,043,095 shares of the insurance provider’s stock worth $4,528,000 after purchasing an additional 14,336 shares in the last quarter. UBS Group AG raised its stake in MBIA by 72.9% during the 3rd quarter. UBS Group AG now owns 1,026,406 shares of the insurance provider’s stock valued at $7,647,000 after purchasing an additional 432,906 shares during the period. Marshall Wace LLP raised its stake in MBIA by 184.1% during the 2nd quarter. Marshall Wace LLP now owns 416,964 shares of the insurance provider’s stock valued at $1,810,000 after purchasing an additional 270,192 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of MBIA by 20.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 338,592 shares of the insurance provider’s stock valued at $2,424,000 after purchasing an additional 57,970 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

MBIA Price Performance

Shares of MBI stock opened at $5.04 on Tuesday. MBIA, Inc. has a fifty-two week low of $4.87 and a fifty-two week high of $8.26. The stock’s 50-day moving average is $6.04 and its two-hundred day moving average is $6.09. The firm has a market cap of $256.69 million, a P/E ratio of -1.74 and a beta of 1.62.

MBIA (NYSE:MBI) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The firm had revenue of $27.00 million during the quarter, compared to analyst estimates of $5.75 million. As a group, research analysts expect that MBIA, Inc. will post -0.29 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on MBI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBIA in a research report on Friday, July 17th. Wall Street Zen raised MBIA from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MBIA has an average rating of “Hold” and a consensus price target of $7.50.

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.