Park Avenue Securities LLC Raises Stock Position in MBIA Inc. (NYSE:MBI)

Park Avenue Securities LLC lifted its position in shares of MBIA Inc. (NYSE:MBI) by 11.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 24,700 shares of the insurance provider’s stock after buying an additional 2,444 shares during the period. Park Avenue Securities LLC’s holdings in MBIA were worth $167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of MBIA by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 730,372 shares of the insurance provider’s stock worth $5,266,000 after acquiring an additional 24,090 shares during the period. Panagora Asset Management Inc. grew its holdings in shares of MBIA by 12.2% in the 4th quarter. Panagora Asset Management Inc. now owns 184,639 shares of the insurance provider’s stock worth $1,130,000 after acquiring an additional 20,142 shares during the period. Virtu Financial LLC acquired a new stake in shares of MBIA in the 4th quarter worth approximately $289,000. Nisa Investment Advisors LLC grew its holdings in shares of MBIA by 814.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 28,035 shares of the insurance provider’s stock worth $172,000 after acquiring an additional 24,970 shares during the period. Finally, Oak Thistle LLC acquired a new stake in shares of MBIA in the 4th quarter worth approximately $168,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

MBIA Stock Performance

Shares of NYSE:MBI opened at $5.19 on Wednesday. The business’s fifty day moving average price is $5.83 and its two-hundred day moving average price is $6.46. The stock has a market cap of $266.14 million, a PE ratio of -0.51 and a beta of 1.45. MBIA Inc. has a one year low of $5.02 and a one year high of $14.37.

MBIA (NYSE:MBI) last posted its quarterly earnings data on Thursday, May 9th. The insurance provider reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.46). The firm had revenue of $13.00 million during the quarter, compared to analyst estimates of $29.00 million. During the same quarter last year, the business earned ($0.03) EPS. As a group, equities research analysts predict that MBIA Inc. will post -0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered their price target on MBIA from $7.50 to $6.50 and set a “market perform” rating on the stock in a report on Friday, May 31st.

Insider Transactions at MBIA

In other news, Director Theodore Shasta sold 21,405 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $5.52, for a total transaction of $118,155.60. Following the sale, the director now owns 82,625 shares in the company, valued at $456,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.79% of the company’s stock.

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.