Kahn Brothers Group Inc. DE cut its position in MBIA Inc. (NYSE:MBI) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,579,421 shares of the insurance provider’s stock after selling 35,315 shares during the quarter. MBIA makes up 6.5% of Kahn Brothers Group Inc. DE’s investment portfolio, making the stock its 9th biggest holding. Kahn Brothers Group Inc. DE owned about 6.58% of MBIA worth $51,498,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the business. SRS Capital Advisors Inc. acquired a new stake in shares of MBIA in the 2nd quarter valued at approximately $26,000. Bank of Montreal Can increased its stake in MBIA by 470.0% in the 2nd quarter. Bank of Montreal Can now owns 9,058 shares of the insurance provider’s stock valued at $84,000 after purchasing an additional 7,469 shares in the last quarter. Paloma Partners Management Co purchased a new position in MBIA in the 2nd quarter valued at approximately $142,000. Jane Street Group LLC purchased a new position in MBIA in the 2nd quarter valued at approximately $200,000. Finally, Atria Investments LLC purchased a new position in MBIA in the 2nd quarter valued at approximately $221,000. 86.97% of the stock is owned by institutional investors.
Several research firms have weighed in on MBI. BTIG Research reissued a “buy” rating and set a $14.00 price target on shares of MBIA in a research report on Tuesday, September 10th. TheStreet downgraded MBIA from a “c-” rating to a “d+” rating in a research report on Wednesday, July 31st.
MBIA stock traded down $0.14 during mid-day trading on Friday, hitting $10.20. 859,745 shares of the company were exchanged, compared to its average volume of 720,796. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.89 and a quick ratio of 1.89. The business’s 50 day simple moving average is $9.56 and its two-hundred day simple moving average is $9.37. The company has a market capitalization of $803.49 million, a P/E ratio of 4.29 and a beta of 1.25. MBIA Inc. has a 12-month low of $7.95 and a 12-month high of $10.90.
MBIA (NYSE:MBI) last released its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $1.58. The company had revenue of $172.00 million for the quarter, compared to analysts’ expectations of $49.73 million. During the same period in the previous year, the business posted ($0.35) EPS.
In other news, Director Theodore Shasta sold 29,809 shares of MBIA stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.12, for a total value of $271,858.08. Following the completion of the sale, the director now owns 93,532 shares of the company’s stock, valued at $853,011.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.83% of the stock is owned by insiders.
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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