Whitebox Advisors LLC Buys 369,255 Shares of MBIA Inc. (NYSE:MBI)

Whitebox Advisors LLC grew its stake in MBIA Inc. (NYSE:MBI - Free Report) by 86.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 794,431 shares of the insurance provider's stock after purchasing an additional 369,255 shares during the quarter. Whitebox Advisors LLC owned about 1.55% of MBIA worth $4,361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Securities Inc. purchased a new position in shares of MBIA in the 4th quarter valued at approximately $25,000. Neuberger Berman Group LLC lifted its position in MBIA by 21.6% during the fourth quarter. Neuberger Berman Group LLC now owns 12,910 shares of the insurance provider's stock valued at $79,000 after buying an additional 2,295 shares during the period. Virtu Financial LLC bought a new stake in shares of MBIA during the 4th quarter valued at $289,000. Park Avenue Securities LLC grew its position in shares of MBIA by 11.0% in the 1st quarter. Park Avenue Securities LLC now owns 24,700 shares of the insurance provider's stock worth $167,000 after buying an additional 2,444 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of MBIA by 22.4% in the 1st quarter. GSA Capital Partners LLP now owns 190,674 shares of the insurance provider's stock worth $1,289,000 after buying an additional 34,940 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

MBIA Trading Down 4.0 %

NYSE:MBI traded down $0.15 on Wednesday, reaching $3.58. 284,358 shares of the stock traded hands, compared to its average volume of 485,409. The company has a market capitalization of $182.69 million, a price-to-earnings ratio of -0.37 and a beta of 1.44. MBIA Inc. has a 12 month low of $3.22 and a 12 month high of $14.37. The company's fifty day simple moving average is $3.93 and its 200 day simple moving average is $5.26.

MBIA (NYSE:MBI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The insurance provider reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($2.75). The company had revenue of ($37.00) million for the quarter, compared to the consensus estimate of $29.00 million. During the same period in the prior year, the business earned ($0.45) earnings per share. Equities analysts anticipate that MBIA Inc. will post -3.75 EPS for the current fiscal year.

Analysts Set New Price Targets

MBI has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of MBIA from $7.50 to $6.50 and set a "market perform" rating on the stock in a research note on Friday, May 31st. Roth Mkm dropped their price target on MBIA from $7.00 to $4.50 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th.

MBIA Profile

MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (U.S.) Public Finance Insurance, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of the U.S.