Caption Management LLC Reduces Stock Position in MBIA, Inc. $MBI

Key Points

• Caption Management LLC has sold 130,172 shares of MBIA, Inc., reducing its stake by 56.8% to approximately 99,096 shares valued at $493,000.
• Other investors have adjusted their stakes in MBIA, with Invesco Ltd. increasing its position by 7.4% and institutional investors currently holding 60.95% of the company's stock.
• Wall Street analysts have upgraded MBIA from a "sell" to a "hold" rating, with a consensus target price of $8.00 per share.

Caption Management LLC lessened its stake in MBIA, Inc. (NYSE:MBI - Free Report) by 56.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,096 shares of the insurance provider's stock after selling 130,172 shares during the quarter. Caption Management LLC owned approximately 0.20% of MBIA worth $493,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. PEAK6 LLC raised its holdings in MBIA by 130.2% during the 1st quarter. PEAK6 LLC now owns 49,999 shares of the insurance provider's stock valued at $249,000 after acquiring an additional 215,327 shares during the period. Nuveen LLC purchased a new position in MBIA in the first quarter worth $731,000. Two Sigma Investments LP grew its position in MBIA by 49.0% in the fourth quarter. Two Sigma Investments LP now owns 380,182 shares of the insurance provider's stock worth $2,456,000 after acquiring an additional 125,039 shares in the last quarter. Freestone Capital Holdings LLC grew its position in MBIA by 60.6% in the first quarter. Freestone Capital Holdings LLC now owns 288,129 shares of the insurance provider's stock worth $1,435,000 after acquiring an additional 108,776 shares in the last quarter. Finally, TCW Group Inc. grew its position in MBIA by 12.7% in the first quarter. TCW Group Inc. now owns 796,560 shares of the insurance provider's stock worth $3,967,000 after acquiring an additional 90,000 shares in the last quarter. Institutional investors own 60.95% of the company's stock.

MBIA Price Performance

NYSE MBI traded down $0.45 during trading on Friday, hitting $7.48. 477,050 shares of the company's stock traded hands, compared to its average volume of 462,511. The stock has a fifty day moving average of $5.88 and a two-hundred day moving average of $5.18. MBIA, Inc. has a 12-month low of $3.22 and a 12-month high of $8.26. The firm has a market cap of $377.46 million, a P/E ratio of -1.61 and a beta of 1.94.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of MBIA from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $8.00.

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.