Renaissance Technologies LLC lifted its position in MBIA Inc. (NYSE:MBI – Free Report) by 427.9% during the 2nd quarter, Holdings Channel reports. The firm owned 119,174 shares of the insurance provider’s stock after buying an additional 96,600 shares during the quarter. Renaissance Technologies LLC’s holdings in MBIA were worth $654,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new position in shares of MBIA during the first quarter worth approximately $1,105,000. TCW Group Inc. acquired a new position in MBIA during the 2nd quarter worth $1,435,000. Vanguard Group Inc. boosted its position in MBIA by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,387,073 shares of the insurance provider’s stock valued at $16,137,000 after buying an additional 39,767 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of MBIA by 19.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,714 shares of the insurance provider’s stock valued at $106,000 after buying an additional 2,587 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of MBIA during the first quarter worth $284,000. 60.95% of the stock is owned by institutional investors.
MBIA Stock Down 1.4 %
MBI stock opened at $3.40 on Wednesday. The company has a market cap of $174.34 million, a price-to-earnings ratio of -0.33 and a beta of 1.43. MBIA Inc. has a twelve month low of $3.22 and a twelve month high of $14.37. The business has a 50 day moving average price of $3.71 and a two-hundred day moving average price of $5.05.
Analysts Set New Price Targets
Separately, Roth Mkm lowered their price target on shares of MBIA from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Wednesday, August 7th.
Get Our Latest Stock Analysis on MBIA
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.
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