MBIA (NYSE:MBI) Posts Earnings Results, Misses Expectations By $0.02 EPS

MBIA (NYSE:MBI) released its quarterly earnings data on Thursday. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02), FiscalAI reports. The company had revenue of $27.00 million during the quarter, compared to the consensus estimate of $5.75 million.

MBIA Stock Down 3.0%

Shares of MBI stock traded down $0.16 during trading on Friday, hitting $5.12. The company had a trading volume of 1,177,236 shares, compared to its average volume of 424,514. The stock’s 50-day moving average is $6.06 and its two-hundred day moving average is $6.11. The stock has a market capitalization of $260.97 million, a price-to-earnings ratio of -1.77 and a beta of 1.62. MBIA has a 52 week low of $4.87 and a 52 week high of $8.26.

Analysts Set New Price Targets

MBI has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBIA in a report on Friday, July 17th. Wall Street Zen upgraded shares of MBIA from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.50.

Institutional Investors Weigh In On MBIA

Large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of MBIA during the 3rd quarter valued at about $37,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of MBIA during the third quarter worth approximately $77,000. AQR Capital Management LLC bought a new stake in shares of MBIA in the 4th quarter worth approximately $83,000. State of Wyoming purchased a new stake in shares of MBIA in the 2nd quarter valued at $101,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of MBIA in the 4th quarter valued at $113,000. Hedge funds and other 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.