MBIA Inc. (MBI) Major Shareholder Fine Capital Partners, L.P. Sells 358,000 Shares

MBIA Inc. (NYSE:MBI) major shareholder Fine Capital Partners, L.P. sold 358,000 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $10.07, for a total value of $3,605,060.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Fine Capital Partners, L.P. also recently made the following trade(s):

  • On Wednesday, November 7th, Fine Capital Partners, L.P. sold 200,000 shares of MBIA stock. The stock was sold at an average price of $10.09, for a total value of $2,018,000.00.

MBI stock traded down $0.59 during midday trading on Friday, hitting $9.47. The company’s stock had a trading volume of 1,559,059 shares, compared to its average volume of 811,135. MBIA Inc. has a 12 month low of $6.88 and a 12 month high of $11.62. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 4.67.

MBIA (NYSE:MBI) last released its quarterly earnings data on Tuesday, November 6th. The insurance provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The business had revenue of $105.00 million during the quarter, compared to the consensus estimate of $58.50 million. MBIA had a negative net margin of 73.92% and a negative return on equity of 25.28%. The business’s revenue was up 218.2% compared to the same quarter last year. During the same period last year, the company posted ($0.91) earnings per share.

A number of hedge funds have recently added to or reduced their stakes in the stock. Davidson Kempner Capital Management LP lifted its position in MBIA by 79.6% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 2,592,669 shares of the insurance provider’s stock valued at $23,438,000 after acquiring an additional 1,149,328 shares in the last quarter. Russell Investments Group Ltd. lifted its position in MBIA by 2.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,333,146 shares of the insurance provider’s stock valued at $24,942,000 after acquiring an additional 65,672 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in MBIA by 14.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,234,319 shares of the insurance provider’s stock valued at $11,159,000 after acquiring an additional 153,216 shares in the last quarter. Millennium Management LLC lifted its position in MBIA by 228.5% in the 2nd quarter. Millennium Management LLC now owns 1,021,057 shares of the insurance provider’s stock valued at $9,230,000 after acquiring an additional 710,212 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in MBIA by 4.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 498,568 shares of the insurance provider’s stock valued at $5,330,000 after acquiring an additional 21,941 shares in the last quarter.

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MBIA Company Profile

MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through U.S. Public Finance Insurance, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of the U.S.

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