MBIA, Inc. $MBI Holdings Boosted by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its MBIA stake by 189.1% in the first quarter to 409,892 shares, worth approximately $2.42 million. Institutional investors collectively own 60.95% of the company.
• MBIA shares opened at $5.04, near their 52-week low of $4.87 and below their 50- and 200-day moving averages. The company reported a quarterly loss of $0.14 per share, missing estimates by $0.02.
• Analyst sentiment remains mixed, with one Buy and one Sell rating, resulting in an overall “Hold” consensus and an average price target of $7.50.

Renaissance Technologies LLC grew its stake in shares of MBIA, Inc. (NYSE:MBI - Free Report) by 189.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 409,892 shares of the insurance provider's stock after purchasing an additional 268,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.80% of MBIA worth $2,422,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wolf Hill Capital Management LP increased its position in MBIA by 4.5% in the fourth quarter. Wolf Hill Capital Management LP now owns 2,560,708 shares of the insurance provider's stock worth $18,335,000 after buying an additional 110,544 shares during the period. Seelaus Asset Management LLC increased its holdings in shares of MBIA by 96.0% in the 4th quarter. Seelaus Asset Management LLC now owns 24,500 shares of the insurance provider's stock worth $175,000 after acquiring an additional 12,000 shares during the period. Trexquant Investment LP bought a new stake in MBIA in the 4th quarter valued at about $299,000. PharVision Advisers LLC acquired a new position in MBIA during the 3rd quarter valued at about $214,000. Finally, State of Wyoming boosted its stake in MBIA by 240.0% during the 4th quarter. State of Wyoming now owns 27,425 shares of the insurance provider's stock valued at $196,000 after purchasing an additional 19,360 shares during the period. Institutional investors own 60.95% of the company's stock.

MBIA Stock Down 1.4%

Shares of MBI stock opened at $5.04 on Tuesday. The stock has a 50-day simple moving average of $6.04 and a 200 day simple moving average of $6.09. MBIA, Inc. has a fifty-two week low of $4.87 and a fifty-two week high of $8.26. The stock has a market capitalization of $256.69 million, a P/E ratio of -1.74 and a beta of 1.62.

MBIA (NYSE:MBI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The business had revenue of $27.00 million for the quarter, compared to the consensus estimate of $5.75 million. On average, sell-side analysts anticipate that MBIA, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

MBI has been the topic of a number of recent analyst reports. Wall Street Zen raised MBIA from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MBIA in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, MBIA presently has an average rating of "Hold" and an average price target of $7.50.

MBIA Company Profile

MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.

Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.

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