GSA Capital Partners LLP increased its position in shares of MBIA, Inc. (NYSE:MBI) by 273.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,590 shares of the insurance provider’s stock after acquiring an additional 119,075 shares during the quarter. GSA Capital Partners LLP owned approximately 0.18% of MBIA worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP acquired a new stake in shares of MBIA during the third quarter worth about $444,000. Trellus Management Company LLC purchased a new stake in shares of MBIA during the third quarter worth approximately $740,000. Fine Capital Partners L.P. increased its stake in shares of MBIA by 88.9% during the third quarter. Fine Capital Partners L.P. now owns 8,726,432 shares of the insurance provider’s stock worth $75,920,000 after buying an additional 4,105,792 shares during the period. Kahn Brothers Group Inc. DE increased its stake in shares of MBIA by 1.3% during the second quarter. Kahn Brothers Group Inc. DE now owns 4,483,598 shares of the insurance provider’s stock worth $42,280,000 after buying an additional 57,400 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of MBIA by 0.3% during the second quarter. JPMorgan Chase & Co. now owns 2,949,991 shares of the insurance provider’s stock worth $27,818,000 after buying an additional 10,251 shares during the period.
MBIA, Inc. (MBI) traded up $0.17 during trading on Thursday, reaching $7.56. The company’s stock had a trading volume of 980,061 shares, compared to its average volume of 1,307,945. MBIA, Inc. has a 12 month low of $6.04 and a 12 month high of $11.65. The firm has a market capitalization of $946.77, a P/E ratio of -0.52 and a beta of 2.46. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.94.
MBIA announced that its board has approved a share repurchase program on Tuesday, November 7th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Several brokerages have commented on MBI. MKM Partners reiterated a “buy” rating on shares of MBIA in a research note on Thursday, October 5th. ValuEngine raised MBIA from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.50.
In related news, Director Joseph W. Brown acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was purchased at an average price of $7.25 per share, for a total transaction of $362,500.00. Following the transaction, the director now owns 2,399,634 shares in the company, valued at approximately $17,397,346.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.11% of the company’s stock.
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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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