MBIA Inc. (NYSE:MBI) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in MBIA Inc. (NYSE:MBI) by 427.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 119,174 shares of the insurance provider’s stock after acquiring an additional 96,600 shares during the quarter. Renaissance Technologies LLC owned 0.23% of MBIA worth $654,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Neuberger Berman Group LLC raised its position in shares of MBIA by 21.6% in 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 last quarter. Virtu Financial LLC purchased a new position in shares of MBIA during the 4th quarter worth $289,000. Park Avenue Securities LLC boosted its holdings in shares of MBIA by 11.0% during the first quarter. Park Avenue Securities LLC now owns 24,700 shares of the insurance provider’s stock worth $167,000 after purchasing an additional 2,444 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of MBIA by 22.4% in the first quarter. GSA Capital Partners LLP now owns 190,674 shares of the insurance provider’s stock valued at $1,289,000 after purchasing an additional 34,940 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in MBIA by 19.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,714 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 2,587 shares during the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Roth Mkm dropped their price target on shares of MBIA from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Wednesday, August 7th.

MBIA Trading Down 1.4 %

Shares of MBIA stock opened at $3.40 on Wednesday. MBIA Inc. has a 52 week low of $3.22 and a 52 week high of $14.37. The company’s 50-day moving average price is $3.71 and its two-hundred day moving average price is $5.05. The stock has a market cap of $174.34 million, a PE ratio of -0.33 and a beta of 1.43.

MBIA (NYSE:MBI) last posted its quarterly earnings data on Tuesday, August 6th. The insurance provider reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($2.75). The business had revenue of ($37.00) million for the quarter, compared to the consensus estimate of $29.00 million. During the same period in the previous year, the company earned ($0.45) earnings per share. On average, equities analysts predict that MBIA Inc. will post -3.75 EPS for the current fiscal year.

About MBIA

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.