Cubist Systematic Strategies LLC Boosts Holdings in MBIA, Inc. (MBI)

Cubist Systematic Strategies LLC lifted its stake in shares of MBIA, Inc. (NYSE:MBI) by 2,284.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,150 shares of the insurance provider’s stock after purchasing an additional 95,950 shares during the period. Cubist Systematic Strategies LLC owned 0.11% of MBIA worth $871,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in MBI. Financial Partners Capital Management LLC raised its stake in MBIA by 12.4% in the 2nd quarter. Financial Partners Capital Management LLC now owns 11,294 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 1,250 shares during the period. Nine Chapters Capital Management LLC bought a new stake in MBIA in the 3rd quarter valued at $111,000. Tower Research Capital LLC TRC bought a new stake in MBIA in the 2nd quarter valued at $116,000. Intl Fcstone Inc. bought a new stake in MBIA in the 2nd quarter valued at $127,000. Finally, Prudential Financial Inc. raised its stake in MBIA by 2.7% in the 2nd quarter. Prudential Financial Inc. now owns 14,415 shares of the insurance provider’s stock valued at $136,000 after acquiring an additional 380 shares during the period.

MBIA, Inc. (NYSE MBI) traded down $0.09 during mid-day trading on Friday, reaching $7.47. The company’s stock had a trading volume of 1,010,000 shares, compared to its average volume of 2,210,000. The company has a market cap of $939.85, a PE ratio of -0.51 and a beta of 2.46. MBIA, Inc. has a 1 year low of $6.04 and a 1 year high of $11.65. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 1.94.

MBIA (NYSE:MBI) last released its earnings results on Tuesday, November 7th. The insurance provider reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($1.01). The firm had revenue of $33.00 million during the quarter, compared to the consensus estimate of $85.85 million. The business’s quarterly revenue was down 83.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share.

MBIA declared that its board has approved a stock repurchase plan on Tuesday, November 7th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

A number of equities research analysts recently weighed in on the company. ValuEngine upgraded MBIA from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. MKM Partners reiterated a “buy” rating on shares of MBIA in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.50.

In other MBIA news, Director Joseph W. Brown acquired 50,000 shares of MBIA stock in a transaction that occurred on Tuesday, December 19th. The shares were acquired at an average cost of $7.25 per share, with a total value of $362,500.00. Following the completion of the purchase, the director now directly owns 2,399,634 shares of the company’s stock, valued at approximately $17,397,346.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.11% of the company’s stock.

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MBIA Company Profile

MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.

Institutional Ownership by Quarter for MBIA (NYSE:MBI)

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