MBIA Inc. (NYSE:MBI) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its position in MBIA Inc. (NYSE:MBI) by 34.1% during the second quarter, HoldingsChannel.com reports. The fund owned 21,065 shares of the insurance provider’s stock after acquiring an additional 5,351 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in MBIA were worth $116,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Kahn Brothers Group Inc. lifted its holdings in MBIA by 7.2% in the 1st quarter. Kahn Brothers Group Inc. now owns 5,176,613 shares of the insurance provider’s stock valued at $34,993,000 after purchasing an additional 347,007 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of MBIA by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,387,073 shares of the insurance provider’s stock worth $16,137,000 after buying an additional 39,767 shares in the last quarter. Whitebox Advisors LLC boosted its position in MBIA by 54.5% during the first quarter. Whitebox Advisors LLC now owns 425,176 shares of the insurance provider’s stock worth $2,874,000 after acquiring an additional 150,000 shares during the last quarter. GSA Capital Partners LLP grew its stake in MBIA by 22.4% during the 1st quarter. GSA Capital Partners LLP now owns 190,674 shares of the insurance provider’s stock valued at $1,289,000 after acquiring an additional 34,940 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in MBIA by 12.2% in the 4th quarter. Panagora Asset Management Inc. now owns 184,639 shares of the insurance provider’s stock valued at $1,130,000 after acquiring an additional 20,142 shares during the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

MBIA Price Performance

NYSE:MBI opened at $3.83 on Friday. The company’s 50-day moving average is $4.68 and its two-hundred day moving average is $5.72. MBIA Inc. has a 1-year low of $3.55 and a 1-year high of $14.37. The firm has a market capitalization of $196.39 million, a price-to-earnings ratio of -0.38 and a beta of 1.45.

MBIA (NYSE:MBI) last released its quarterly earnings data on Tuesday, August 6th. The insurance provider reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($2.75). The company had revenue of ($37.00) million during the quarter, compared to analysts’ expectations of $29.00 million. During the same quarter in the previous year, the company earned ($0.45) EPS. As a group, equities analysts anticipate that MBIA Inc. will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at MBIA

In related news, Director Theodore Shasta sold 21,405 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $5.52, for a total value of $118,155.60. Following the sale, the director now directly owns 82,625 shares in the company, valued at approximately $456,090. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MBI. Roth Mkm lowered their target price on MBIA from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Keefe, Bruyette & Woods lowered their price objective on MBIA from $7.50 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, May 31st.

MBIA 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.