Freestone Capital Holdings LLC Has $1.44 Million Stake in MBIA, Inc. $MBI

Key Points

• Freestone Capital Holdings LLC boosted its stake in MBIA, Inc. by 60.6%, acquiring 288,129 shares worth approximately $1.435 million in the first quarter of this year.
• Other investors, including Aquatic Capital Management LLC and ProShare Advisors LLC, also made new investments in MBIA during the fourth quarter, showing a trend of significant interest from hedge funds and institutional investors, which now own 60.95% of the stock.
• Analyst firm Keefe, Bruyette & Woods reduced their price target for MBIA shares from $9.00 to $8.00 while maintaining an "outperform" rating.

Freestone Capital Holdings LLC boosted its holdings in MBIA, Inc. (NYSE:MBI - Free Report) by 60.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 288,129 shares of the insurance provider's stock after buying an additional 108,776 shares during the period. Freestone Capital Holdings LLC owned approximately 0.57% of MBIA worth $1,435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aquatic Capital Management LLC bought a new position in MBIA during the fourth quarter worth $50,000. Kahn Brothers Group Inc. bought a new position in shares of MBIA during the 4th quarter worth about $68,000. Nebula Research & Development LLC bought a new position in shares of MBIA during the 4th quarter worth about $77,000. ProShare Advisors LLC bought a new position in shares of MBIA during the 4th quarter worth about $81,000. Finally, Dupree Financial Group LLC bought a new position in shares of MBIA during the 1st quarter worth about $124,000. Institutional investors own 60.95% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lowered their price target on MBIA from $9.00 to $8.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $8.00.

MBIA Trading Up 3.6%

Shares of MBIA stock traded up $0.2630 during mid-day trading on Thursday, reaching $7.4930. 589,684 shares of the stock were exchanged, compared to its average volume of 355,649. The company has a market cap of $378.32 million, a price-to-earnings ratio of -1.61 and a beta of 1.85. The firm has a 50-day simple moving average of $5.03 and a 200 day simple moving average of $5.13. MBIA, Inc. has a fifty-two week low of $3.22 and a fifty-two week high of $7.63.

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.