Whitebox Advisors LLC Sells 500,000 Shares of MBIA Inc. (NYSE:MBI)

Whitebox Advisors LLC lessened its holdings in shares of MBIA Inc. (NYSE:MBI - Free Report) by 59.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 344,431 shares of the insurance provider's stock after selling 500,000 shares during the quarter. Whitebox Advisors LLC owned about 0.67% of MBIA worth $2,225,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new stake in shares of MBIA during the 4th quarter valued at about $50,000. Nebula Research & Development LLC acquired a new position in shares of MBIA in the 4th quarter worth approximately $77,000. XTX Topco Ltd bought a new stake in MBIA during the 4th quarter worth about $152,000. MetLife Investment Management LLC increased its stake in shares of MBIA by 225.8% in the 4th quarter. MetLife Investment Management LLC now owns 27,260 shares of the insurance provider's stock valued at $176,000 after buying an additional 18,893 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of MBIA by 7.0% during 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 period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MBI has been the topic of a number of research reports. StockNews.com lowered shares of MBIA from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods cut their price objective on shares of MBIA from $9.00 to $8.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th.

MBIA Stock Up 0.5 %

Shares of MBI stock traded up $0.03 during trading hours on Tuesday, hitting $4.72. 60,521 shares of the company's stock traded hands, compared to its average volume of 447,321. The stock's 50 day simple moving average is $4.89 and its 200 day simple moving average is $5.66. The stock has a market cap of $237.50 million, a PE ratio of -0.42 and a beta of 1.88. 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 earnings results on Thursday, February 27th. The insurance provider reported ($0.48) 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. As a group, equities research analysts expect that MBIA Inc. will post -3.5 EPS for the current fiscal year.

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.