MBIA Sees Unusually High Options Volume (MBI)

MBIA, Inc. (NYSE:MBI) was the recipient of unusually large options trading on Thursday. Stock traders purchased 45,386 put options on the company. This is an increase of approximately 6,042% compared to the typical daily volume of 739 put options.

A number of equities research analysts have weighed in on MBI shares. ValuEngine lowered MBIA from a “buy” rating to a “hold” rating in a report on Friday, October 20th. MKM Partners reaffirmed a “buy” rating on shares of MBIA in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $14.50.

Shares of MBIA (NYSE MBI) opened at $7.45 on Friday. MBIA has a twelve month low of $6.04 and a twelve month high of $11.65. The firm has a market capitalization of $686.66, a P/E ratio of -0.51 and a beta of 2.46. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.09 and a quick ratio of 2.09.

MBIA (NYSE:MBI) last announced its quarterly earnings data on Tuesday, November 7th. The insurance provider reported ($0.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($1.01). The business had revenue of $33.00 million during the quarter, compared to the consensus estimate of $85.85 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The company’s quarterly revenue was down 83.7% compared to the same quarter last year.

MBIA announced that its Board of Directors has authorized a share buyback plan on Tuesday, November 7th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

In related news, Director Joseph W. Brown purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were purchased at an average price of $7.25 per share, with a total value of $362,500.00. Following the completion of the acquisition, the director now directly owns 2,399,634 shares in the company, valued at approximately $17,397,346.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 4.11% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new stake in shares of MBIA during the 4th quarter valued at approximately $229,000. GSA Capital Partners LLP lifted its position in shares of MBIA by 273.6% during the 3rd quarter. GSA Capital Partners LLP now owns 162,590 shares of the insurance provider’s stock valued at $1,415,000 after acquiring an additional 119,075 shares during the period. FrontFour Capital Group LLC acquired a new stake in shares of MBIA during the 3rd quarter valued at approximately $1,585,000. Cubist Systematic Strategies LLC lifted its position in shares of MBIA by 2,284.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 100,150 shares of the insurance provider’s stock valued at $871,000 after acquiring an additional 95,950 shares during the period. Finally, Valueworks LLC lifted its position in shares of MBIA by 1.1% during the 3rd quarter. Valueworks LLC now owns 666,473 shares of the insurance provider’s stock valued at $5,798,000 after acquiring an additional 7,213 shares during the period.

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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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