2,118,014 Shares in MBIA, Inc. $MBI Acquired by Wolf Hill Capital Management LP

Wolf Hill Capital Management LP acquired a new stake in MBIA, Inc. (NYSE:MBI) during the 2nd quarter, HoldingsChannel reports. The firm acquired 2,118,014 shares of the insurance provider’s stock, valued at approximately $13,809,451,000. MBIA accounts for about 1.2% of Wolf Hill Capital Management LP’s investment portfolio, making the stock its 19th largest holding.

Several other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC increased its position in MBIA by 189.1% in the first quarter. Renaissance Technologies LLC now owns 409,892 shares of the insurance provider’s stock worth $2,422,000 after buying an additional 268,100 shares during the last quarter. Chou Associates Management Inc. bought a new stake in shares of MBIA in the second quarter valued at $2,093,000. Citizens Financial Group Inc. RI purchased a new position in shares of MBIA during the 2nd quarter valued at $206,000. Empirical Asset Management LLC purchased a new position in shares of MBIA during the 2nd quarter valued at $276,000. Finally, AQR Capital Management LLC bought a new position in shares of MBIA during the 1st quarter worth $120,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

MBIA Price Performance

NYSE:MBI opened at $4.92 on Tuesday. MBIA, Inc. has a 1 year low of $4.72 and a 1 year high of $8.26. The stock’s fifty day moving average price is $5.83 and its two-hundred day moving average price is $5.98. The company has a market cap of $250.32 million, a P/E ratio of -1.70 and a beta of 1.62.

MBIA (NYSE:MBI) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The firm had revenue of $27.00 million during the quarter, compared to the consensus estimate of $5.75 million. On average, analysts expect that MBIA, Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MBI has been the subject of several recent research reports. Wall Street Zen raised MBIA from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Keefe, Bruyette & Woods cut their target price on shares of MBIA from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MBIA in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.00.

MBIA Company Profile

MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.

Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.