Joseph W. Brown Sells 248,433 Shares of MBIA Inc. (MBI) Stock
MBIA Inc. (NYSE:MBI) CEO Joseph W. Brown sold 248,433 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $10.10, for a total transaction of $2,509,173.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of MBIA Inc. (NYSE:MBI) opened at 10.39 on Thursday. MBIA Inc. has a 52-week low of $5.26 and a 52-week high of $10.47. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 236.14 and a beta of 2.08. The company’s 50-day moving average is $8.38 and its 200 day moving average is $7.79.
MBIA (NYSE:MBI) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.12 by $0.08. MBIA had a return on equity of 1.26% and a net margin of 1.23%. During the same quarter last year, the firm posted $0.15 EPS. On average, analysts expect that MBIA Inc. will post $0.44 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of MBI. Verition Fund Management LLC purchased a new position in MBIA during the third quarter valued at approximately $118,000. Rational Advisors LLC purchased a new position in MBIA during the second quarter valued at approximately $114,000. Invictus RG boosted its position in MBIA by 1,063.6% in the second quarter. Invictus RG now owns 16,639 shares of the company’s stock valued at $114,000 after buying an additional 15,209 shares during the period. Capstone Investment Advisors LLC purchased a new position in MBIA during the second quarter valued at approximately $116,000. Finally, HighTower Advisors LLC boosted its position in MBIA by 52.9% in the third quarter. HighTower Advisors LLC now owns 17,100 shares of the company’s stock valued at $136,000 after buying an additional 5,916 shares during the period. Institutional investors own 90.47% of the company’s stock.
Separately, BTIG Research restated a “buy” rating and set a $14.00 price target on shares of MBIA in a research report on Wednesday, September 7th.
MBIA Company Profile
MBIA Inc (MBIA) is a holding company. The Company, through its subsidiary, National Public Finance Guarantee Corporation (National), is engaged in providing financial guarantee insurance to the United States public finance markets. MBIA’s segments include United States (U.S.) public finance insurance, international and structured finance insurance, and corporate.
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