Delek Group Ltd. Sells 55,000 Shares of MBIA Inc. (MBI)
Delek Group Ltd. cut its holdings in shares of MBIA Inc. (NYSE:MBI) by 7.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 711,000 shares of the insurance provider’s stock after selling 55,000 shares during the quarter. Delek Group Ltd. owned approximately 0.79% of MBIA worth $6,591,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MBI. Fine Capital Partners L.P. lifted its holdings in MBIA by 27.0% during the fourth quarter. Fine Capital Partners L.P. now owns 11,086,830 shares of the insurance provider’s stock valued at $81,156,000 after purchasing an additional 2,360,398 shares during the last quarter. Discovery Capital Management LLC CT lifted its holdings in MBIA by 79.8% during the fourth quarter. Discovery Capital Management LLC CT now owns 3,165,250 shares of the insurance provider’s stock valued at $23,170,000 after purchasing an additional 1,404,550 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in MBIA by 20.2% during the fourth quarter. OppenheimerFunds Inc. now owns 6,298,113 shares of the insurance provider’s stock valued at $46,102,000 after purchasing an additional 1,060,304 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in MBIA by 33.0% during the first quarter. Russell Investments Group Ltd. now owns 3,274,355 shares of the insurance provider’s stock valued at $30,322,000 after purchasing an additional 813,198 shares during the last quarter. Finally, X Square Capital LLC purchased a new stake in MBIA during the fourth quarter valued at about $5,597,000.
Separately, ValuEngine downgraded shares of MBIA from a “buy” rating to a “hold” rating in a report on Saturday, April 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.50.
MBIA (NYSE:MBI) last announced its quarterly earnings results on Wednesday, May 9th. The insurance provider reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.40). MBIA had a negative return on equity of 30.18% and a negative net margin of 380.19%. The firm had revenue of $73.00 million during the quarter, compared to analysts’ expectations of $76.60 million. During the same period in the previous year, the company posted $0.07 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year.
MBIA Company Profile
MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through 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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