MBIA Target of Unusually Large Options Trading (NYSE:MBI)

MBIA, Inc. (NYSE:MBI) was the target of unusually large options trading activity on Wednesday. Stock traders bought 12,896 put options on the company. This represents an increase of 1,833% compared to the typical daily volume of 667 put options.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of MBIA from $7.50 to $7.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Wall Street Zen raised MBIA from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MBIA in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.00.

MBIA Price Performance

NYSE MBI traded down $0.17 on Wednesday, hitting $4.80. 402,557 shares of the company were exchanged, compared to its average volume of 377,232. The company’s 50 day moving average price is $5.94 and its 200-day moving average price is $6.03. The firm has a market capitalization of $244.51 million, a P/E ratio of -1.66 and a beta of 1.62. MBIA has a twelve month low of $4.79 and a twelve month high of $8.26.

MBIA (NYSE:MBI) last announced its earnings results on Thursday, August 6th. The insurance provider reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $27.00 million for the quarter, compared to the consensus estimate of $5.75 million. As a group, equities analysts expect that MBIA will post -0.33 EPS for the current year.

Hedge Funds Weigh In On MBIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in shares of MBIA by 189.1% in the first quarter. Renaissance Technologies LLC now owns 409,892 shares of the insurance provider’s stock worth $2,422,000 after purchasing an additional 268,100 shares in the last quarter. Wolf Hill Capital Management LP increased its stake in 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 buying an additional 110,544 shares during the period. Walleye Capital LLC lifted its position in MBIA by 14.0% in the 1st quarter. Walleye Capital LLC now owns 91,801 shares of the insurance provider’s stock worth $543,000 after buying an additional 11,255 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new stake in shares of MBIA during the 1st quarter valued at $187,000. Finally, Seelaus Asset Management LLC grew its holdings in shares of MBIA by 96.0% during the 4th quarter. Seelaus Asset Management LLC now owns 24,500 shares of the insurance provider’s stock valued at $175,000 after acquiring an additional 12,000 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.