MBIA (NYSE:MBI) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• MBIA reported a quarterly loss of $0.14 per share, missing analysts’ estimate of a $0.12 loss by $0.02. Revenue reached $27.0 million, substantially above the $5.75 million consensus estimate.
• Shares fell 0.3% to $5.29, near the company’s 52-week low of $5.09. MBIA has a market capitalization of approximately $269.6 million and a negative P/E ratio.
• Analyst sentiment remains mixed, with one Buy and one Sell rating producing an overall Hold consensus and an average price target of $7.50. Institutional investors and hedge funds own 60.95% of the stock.

MBIA (NYSE:MBI - Get Free Report) posted its quarterly earnings data on Thursday. The insurance provider reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02), FiscalAI reports. The business had revenue of $27.00 million for the quarter, compared to the consensus estimate of $5.75 million.

MBIA Stock Down 0.3%

Shares of MBIA stock traded down $0.02 during trading hours on Thursday, reaching $5.29. 365,965 shares of the company's stock were exchanged, compared to its average volume of 364,929. The business has a fifty day moving average of $6.09 and a two-hundred day moving average of $6.12. The company has a market capitalization of $269.64 million, a P/E ratio of -1.71 and a beta of 1.62. MBIA has a 1 year low of $5.09 and a 1 year high of $8.26.

Analyst Ratings Changes

MBI has been the subject of a number of research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of MBIA in a research note on Friday, July 17th. Wall Street Zen raised shares of MBIA from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $7.50.

Hedge Funds Weigh In On MBIA

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in MBIA by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,043,095 shares of the insurance provider's stock valued at $4,528,000 after acquiring an additional 14,336 shares during the last quarter. UBS Group AG boosted its holdings in shares of 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 purchasing an additional 432,906 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of MBIA by 184.1% during the 2nd quarter. Marshall Wace LLP now owns 416,964 shares of the insurance provider's stock worth $1,810,000 after purchasing an additional 270,192 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of MBIA by 20.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 338,592 shares of the insurance provider's stock valued at $2,424,000 after purchasing an additional 57,970 shares in the last quarter. Finally, Whitebox Advisors LLC grew its position in shares of MBIA by 7.7% in the second quarter. Whitebox Advisors LLC now owns 317,106 shares of the insurance provider's stock valued at $1,376,000 after purchasing an additional 22,675 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

About MBIA

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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