Wolf Hill Capital Management LP Takes Position in MBIA, Inc. $MBI

Key Points

• Wolf Hill Capital Management acquired 2.12 million MBIA shares, representing approximately 4.16% of the company and 1.2% of the fund’s portfolio. Other institutional investors also increased or initiated positions, with institutions collectively owning 60.95% of MBIA.
• MBIA shares opened at $4.92, near their 12-month low of $4.72 and below both their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.14 per share, missing estimates by $0.02, while revenue exceeded expectations.
• Analyst sentiment is mixed, with ratings ranging from “sell” to “outperform”; the overall consensus is “Hold” with a $7.00 price target.

Wolf Hill Capital Management LP bought a new stake in shares of MBIA, Inc. (NYSE:MBI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,118,014 shares of the insurance provider's stock, valued at approximately $13,809,451,000. MBIA comprises about 1.2% of Wolf Hill Capital Management LP's holdings, making the stock its 19th largest position. Wolf Hill Capital Management LP owned about 4.16% of MBIA at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in MBIA in the 2nd quarter valued at $23,949,000. UBS Group AG boosted its holdings in MBIA by 72.9% during the 3rd quarter. UBS Group AG now owns 1,026,406 shares of the insurance provider's stock worth $7,647,000 after acquiring an additional 432,906 shares during the last quarter. Chou Associates Management Inc. purchased a new position in MBIA during the 2nd quarter worth $2,093,000. Marshall Wace LLP grew its stake in shares of MBIA by 184.1% in the 2nd quarter. Marshall Wace LLP now owns 416,964 shares of the insurance provider's stock worth $1,810,000 after acquiring an additional 270,192 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of MBIA by 189.1% in the 1st quarter. Renaissance Technologies LLC now owns 409,892 shares of the insurance provider's stock worth $2,422,000 after acquiring an additional 268,100 shares in the last quarter. Institutional investors own 60.95% of the company's stock.

MBIA Trading Up 0.3%

Shares of MBIA stock opened at $4.92 on Tuesday. The business's fifty day simple moving average is $5.83 and its 200 day simple moving average is $5.98. MBIA, Inc. has a 12 month low of $4.72 and a 12 month high of $8.26. The firm has a market capitalization of $250.32 million, a P/E ratio of -1.70 and a beta of 1.62.

MBIA (NYSE:MBI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The business had revenue of $27.00 million during the quarter, compared to analysts' expectations of $5.75 million. Analysts predict that MBIA, Inc. will post -0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price target on shares of MBIA from $7.50 to $7.00 and set an "outperform" rating on the stock in a research report on Thursday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of MBIA in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of MBIA from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $7.00.

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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