Hosking Partners LLP Raises Stock Position in MBIA Inc. (NYSE:MBI)

Hosking Partners LLP grew its holdings in MBIA Inc. (NYSE:MBI) by 1.9% in the 4th quarter, HoldingsChannel reports. The firm owned 1,596,297 shares of the insurance provider’s stock after purchasing an additional 29,918 shares during the quarter. Hosking Partners LLP’s holdings in MBIA were worth $10,312,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MBI. TCW Group Inc. lifted its holdings in MBIA by 53.3% during the 4th quarter. TCW Group Inc. now owns 706,560 shares of the insurance provider’s stock worth $4,564,000 after buying an additional 245,760 shares in the last quarter. Barclays PLC raised its stake in shares of MBIA by 279.1% in the third quarter. Barclays PLC now owns 58,406 shares of the insurance provider’s stock valued at $209,000 after acquiring an additional 42,998 shares in the last quarter. K2 Principal Fund L.P. acquired a new stake in shares of MBIA in the third quarter valued at $173,000. Jane Street Group LLC boosted its holdings in MBIA by 70.5% in the third quarter. Jane Street Group LLC now owns 78,814 shares of the insurance provider’s stock valued at $281,000 after purchasing an additional 32,591 shares during the period. Finally, Whitebox Advisors LLC grew its stake in MBIA by 6.3% during the 3rd quarter. Whitebox Advisors LLC now owns 844,431 shares of the insurance provider’s stock worth $3,015,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

MBIA Price Performance

MBIA stock opened at $7.06 on Friday. The stock has a market cap of $360.02 million, a PE ratio of -0.62 and a beta of 1.62. The stock’s fifty day moving average is $6.57 and its two-hundred day moving average is $5.24. MBIA Inc. has a 1-year low of $3.22 and a 1-year high of $7.46.

MBIA (NYSE:MBI) last issued its earnings results on Thursday, February 27th. The insurance provider reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.17). On average, research analysts expect that MBIA Inc. will post -3.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Theodore Shasta sold 11,261 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $6.13, for a total value of $69,029.93. Following the completion of the transaction, the director now owns 71,364 shares in the company, valued at approximately $437,461.32. This represents a 13.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 13.79% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MBI has been the subject of several recent research reports. StockNews.com cut MBIA from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded shares of MBIA from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $6.50 to $9.00 in a report on Monday, November 18th.

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.