Renaissance Technologies LLC Has $863,000 Stock Holdings in MBIA Inc. (NYSE:MBI)

Renaissance Technologies LLC decreased its position in shares of MBIA Inc. (NYSE:MBI - Free Report) by 66.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,668 shares of the insurance provider's stock after selling 266,610 shares during the quarter. Renaissance Technologies LLC owned 0.26% of MBIA worth $863,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. HighTower Advisors LLC boosted its stake in MBIA by 7.0% in the 4th quarter. HighTower Advisors LLC now owns 30,597 shares of the insurance provider's stock worth $198,000 after buying an additional 2,000 shares during the last quarter. Invesco Ltd. boosted its position in shares of MBIA by 7.4% in the fourth quarter. Invesco Ltd. now owns 37,857 shares of the insurance provider's stock worth $245,000 after acquiring an additional 2,613 shares during the last quarter. Wells Fargo & Company MN grew its holdings in MBIA by 3.0% in the fourth quarter. Wells Fargo & Company MN now owns 140,812 shares of the insurance provider's stock valued at $910,000 after purchasing an additional 4,105 shares during the period. Geode Capital Management LLC raised its stake in MBIA by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 999,713 shares of the insurance provider's stock worth $6,459,000 after purchasing an additional 19,263 shares during the period. Finally, Hosking Partners LLP boosted its holdings in shares of MBIA by 1.9% in the 4th quarter. Hosking Partners LLP now owns 1,596,297 shares of the insurance provider's stock valued at $10,312,000 after purchasing an additional 29,918 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company's stock.

MBIA Price Performance

Shares of NYSE MBI traded down $0.01 during mid-day trading on Wednesday, hitting $4.63. The company had a trading volume of 209,401 shares, compared to its average volume of 448,303. The stock has a market cap of $233.22 million, a price-to-earnings ratio of -0.41 and a beta of 1.88. The firm's 50 day simple moving average is $4.81 and its two-hundred day simple moving average is $5.65. MBIA Inc. has a 12 month low of $3.22 and a 12 month high of $7.46.

MBIA (NYSE:MBI - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The insurance provider reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.17). The company had revenue of $29.00 million during the quarter, compared to analyst estimates of $28.70 million. Equities analysts forecast that MBIA Inc. will post -3.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MBI. Keefe, Bruyette & Woods cut their price objective on MBIA from $9.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. StockNews.com downgraded shares of MBIA from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th.

MBIA Company 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.