Short Interest in MBIA, Inc. (MBI) Expands By 80.7%
MBIA, Inc. (NYSE:MBI) was the recipient of a significant increase in short interest in the month of October. As of October 13th, there was short interest totalling 30,603,091 shares, an increase of 80.7% from the September 29th total of 16,935,860 shares. Currently, 25.6% of the shares of the stock are sold short. Based on an average daily volume of 7,576,984 shares, the days-to-cover ratio is currently 4.0 days.
MBI has been the subject of several research reports. BTIG Research reiterated a “buy” rating and issued a $14.00 target price on shares of MBIA in a research report on Friday, July 14th. BidaskClub upgraded shares of MBIA from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. MKM Partners reiterated a “buy” rating on shares of MBIA in a research report on Thursday, October 5th. Finally, ValuEngine lowered shares of MBIA from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.50.
Shares of MBIA (MBI) opened at 6.91 on Friday. The stock’s market capitalization is $869.39 million. MBIA has a 52-week low of $6.04 and a 52-week high of $11.65. The firm’s 50-day moving average is $8.39 and its 200 day moving average is $9.00.
MBIA (NYSE:MBI) last announced its quarterly earnings results on Tuesday, August 8th. The insurance provider reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.10). The business had revenue of $72.00 million for the quarter, compared to the consensus estimate of $87.85 million. During the same quarter in the prior year, the company posted $0.12 EPS. The business’s revenue was down 39.0% compared to the same quarter last year. Equities analysts expect that MBIA will post ($0.76) EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Aperio Group LLC increased its holdings in shares of MBIA by 40.4% in the 3rd quarter. Aperio Group LLC now owns 28,381 shares of the insurance provider’s stock worth $247,000 after buying an additional 8,161 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of MBIA in the 3rd quarter worth about $444,000. Nationwide Fund Advisors increased its holdings in shares of MBIA by 60.4% in the 3rd quarter. Nationwide Fund Advisors now owns 145,951 shares of the insurance provider’s stock worth $1,270,000 after buying an additional 54,973 shares during the last quarter. Trellus Management Company LLC bought a new stake in shares of MBIA in the 3rd quarter worth about $740,000. Finally, Intl Fcstone Inc. bought a new stake in shares of MBIA in the 2nd quarter worth about $127,000. Hedge funds and other institutional investors own 92.01% of the company’s stock.
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MBIA Company Profile
MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.
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