JTC Employer Solutions Trustee Ltd Decreases Stake in MBIA, Inc. $MBI

Key Points

• JTC Employer Solutions Trustee Ltd reduced its stake in MBIA, Inc. by 35.7% during the 2nd quarter, now owning 180,000 shares worth approximately $782,000.
• Analysts currently project an average target price of $8.00 for MBIA, with a consensus rating of "Hold" despite one analyst issuing a Buy rating and another a Sell rating.
• MBIA's stock opened at $6.68 and has a market capitalization of $337.02 million, reflecting fluctuating performance with a 12-month range between $3.40 and $8.26.

JTC Employer Solutions Trustee Ltd lowered its position in MBIA, Inc. (NYSE:MBI - Free Report) by 35.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 180,000 shares of the insurance provider's stock after selling 100,000 shares during the quarter. JTC Employer Solutions Trustee Ltd owned about 0.36% of MBIA worth $782,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Valueworks LLC increased its holdings in MBIA by 1.0% in the 1st quarter. Valueworks LLC now owns 2,205,805 shares of the insurance provider's stock worth $10,985,000 after acquiring an additional 22,910 shares during the last quarter. TCW Group Inc. boosted its stake in MBIA by 12.7% in the 1st quarter. TCW Group Inc. now owns 796,560 shares of the insurance provider's stock worth $3,967,000 after purchasing an additional 90,000 shares during the period. Freestone Capital Holdings LLC boosted its stake in MBIA by 60.6% in the 1st quarter. Freestone Capital Holdings LLC now owns 288,129 shares of the insurance provider's stock worth $1,435,000 after purchasing an additional 108,776 shares during the period. Trexquant Investment LP boosted its stake in MBIA by 40.1% in the 1st quarter. Trexquant Investment LP now owns 153,489 shares of the insurance provider's stock worth $764,000 after purchasing an additional 43,947 shares during the period. Finally, Nuveen LLC bought a new position in MBIA in the 1st quarter worth about $731,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on MBI shares. Weiss Ratings restated a "sell (d-)" rating on shares of MBIA in a research note on Wednesday, October 8th. Wall Street Zen upgraded MBIA from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.00.

MBIA Trading Up 0.4%

Shares of MBI opened at $6.68 on Friday. The company has a market cap of $337.02 million, a PE ratio of -1.44 and a beta of 1.83. The stock has a 50-day moving average price of $7.29 and a 200-day moving average price of $5.52. MBIA, Inc. has a 12-month low of $3.40 and a 12-month high of $8.26.

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.

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