Whitebox Advisors LLC Has $4.36 Million Holdings in MBIA Inc. (NYSE:MBI)

Whitebox Advisors LLC raised its stake in MBIA Inc. (NYSE:MBI) by 86.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 794,431 shares of the insurance provider’s stock after buying an additional 369,255 shares during the quarter. Whitebox Advisors LLC owned 1.55% of MBIA worth $4,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in shares of MBIA by 427.9% in the 2nd quarter. Renaissance Technologies LLC now owns 119,174 shares of the insurance provider’s stock valued at $654,000 after acquiring an additional 96,600 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in MBIA by 9.3% in the second quarter. Envestnet Asset Management Inc. now owns 430,963 shares of the insurance provider’s stock valued at $2,366,000 after purchasing an additional 36,691 shares in the last quarter. Bank of New York Mellon Corp increased its stake in MBIA by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 200,447 shares of the insurance provider’s stock valued at $1,100,000 after purchasing an additional 19,753 shares in the last quarter. TCW Group Inc. acquired a new stake in MBIA in the second quarter worth $1,435,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of MBIA by 34.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 21,065 shares of the insurance provider’s stock worth $116,000 after purchasing an additional 5,351 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

MBIA Trading Up 2.8 %

MBIA stock opened at $3.73 on Wednesday. The company has a 50 day moving average of $3.93 and a 200-day moving average of $5.26. MBIA Inc. has a twelve month low of $3.22 and a twelve month high of $14.37.

MBIA (NYSE:MBI) last announced its earnings results on Tuesday, August 6th. The insurance provider reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($2.75). The company had revenue of ($37.00) million for the quarter, compared to analysts’ expectations of $29.00 million. During the same period in the previous year, the firm posted ($0.45) earnings per share. As a group, analysts anticipate that MBIA Inc. will post -3.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MBI shares. Roth Mkm lowered their price objective 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. Keefe, Bruyette & Woods lowered their price target on MBIA from $7.50 to $6.50 and set a “market perform” rating for the company in a report on Friday, May 31st.

About MBIA

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.