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

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

MBIA Price Performance

Shares of MBI stock traded up $0.12 during trading hours on Friday, reaching $6.46. 379,122 shares of the company were exchanged, compared to its average volume of 393,710. MBIA has a fifty-two week low of $3.86 and a fifty-two week high of $8.26. The stock’s fifty day moving average is $6.66 and its two-hundred day moving average is $7.08. The company has a market cap of $325.94 million, a price-to-earnings ratio of -1.77 and a beta of 1.89.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. bought a new position in MBIA in the fourth quarter valued at about $203,000. State of Wyoming raised its holdings in MBIA by 240.0% during the 4th quarter. State of Wyoming now owns 27,425 shares of the insurance provider’s stock worth $196,000 after purchasing an additional 19,360 shares during the last quarter. Squarepoint Ops LLC lifted its position in MBIA by 87.8% during the 4th quarter. Squarepoint Ops LLC now owns 25,659 shares of the insurance provider’s stock valued at $184,000 after purchasing an additional 11,994 shares during the period. Invesco Ltd. boosted its stake in shares of MBIA by 36.1% in the 2nd quarter. Invesco Ltd. now owns 41,442 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 10,989 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of MBIA by 398.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,519 shares of the insurance provider’s stock worth $175,000 after buying an additional 18,803 shares during the period. Institutional investors 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.