Virtu Financial LLC grew its stake in shares of MBIA Inc. (NYSE:MBI) by 87.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,014 shares of the insurance provider’s stock after buying an additional 21,488 shares during the quarter. Virtu Financial LLC owned approximately 0.05% of MBIA worth $337,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI bought a new stake in shares of MBIA during the fourth quarter worth about $116,000. Public Employees Retirement System of Ohio raised its holdings in shares of MBIA by 7.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,849 shares of the insurance provider’s stock worth $159,000 after acquiring an additional 1,109 shares during the period. Gamco Investors INC. ET AL purchased a new position in shares of MBIA during the 4th quarter worth $163,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of MBIA during the 4th quarter worth $178,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of MBIA during the 3rd quarter worth $182,000.
In related news, Director Joseph W. Brown acquired 50,000 shares of the stock in a transaction dated Tuesday, December 19th. The shares were bought at an average cost of $7.25 per share, for a total transaction of $362,500.00. Following the purchase, the director now owns 2,399,634 shares in the company, valued at approximately $17,397,346.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.11% of the company’s stock.
Several research firms have recently commented on MBI. ValuEngine upgraded MBIA from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Keefe, Bruyette & Woods began coverage on shares of MBIA in a report on Monday, February 5th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.50.
MBIA stock remained flat at $$8.70 during midday trading on Monday. The stock had a trading volume of 892,605 shares, compared to its average volume of 1,611,910. MBIA Inc. has a 1-year low of $6.04 and a 1-year high of $10.72. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 3.63. The firm has a market cap of $772.24, a price-to-earnings ratio of -0.67 and a beta of 2.15.
MBIA (NYSE:MBI) last posted its quarterly earnings data on Thursday, March 1st. The insurance provider reported ($1.52) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($1.61). MBIA had a negative return on equity of 19.69% and a negative net margin of 370.67%. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $76.19 million. During the same period in the prior year, the firm posted ($0.05) EPS. MBIA’s revenue for the quarter was down 525.4% on a year-over-year basis.
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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.
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