Alliancebernstein L.P. Sells 9,800 Shares of MBIA Inc. (NYSE:MBI)

Alliancebernstein L.P. cut its stake in MBIA Inc. (NYSE:MBI) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,940 shares of the insurance provider’s stock after selling 9,800 shares during the quarter. Alliancebernstein L.P. owned 0.14% of MBIA worth $458,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. HighTower Advisors LLC raised its stake in shares of MBIA by 7.0% in the 4th quarter. HighTower Advisors LLC now owns 30,597 shares of the insurance provider’s stock valued at $198,000 after purchasing an additional 2,000 shares during the period. Barclays PLC boosted its position in MBIA by 279.1% during the 3rd quarter. Barclays PLC now owns 58,406 shares of the insurance provider’s stock worth $209,000 after acquiring an additional 42,998 shares during the last quarter. Jane Street Group LLC grew its stake in shares of MBIA by 70.5% during the 3rd quarter. Jane Street Group LLC now owns 78,814 shares of the insurance provider’s stock worth $281,000 after acquiring an additional 32,591 shares in the last quarter. Freestone Capital Holdings LLC acquired a new stake in shares of MBIA in the fourth quarter valued at approximately $1,159,000. Finally, State Street Corp lifted its position in shares of MBIA by 3.6% in the third quarter. State Street Corp now owns 1,015,523 shares of the insurance provider’s stock worth $3,625,000 after purchasing an additional 35,104 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

MBIA Stock Performance

Shares of NYSE MBI opened at $4.35 on Monday. The stock has a market cap of $218.96 million, a P/E ratio of -0.38 and a beta of 1.80. The firm has a 50 day moving average price of $5.43 and a two-hundred day moving average price of $5.58. MBIA Inc. has a 52-week low of $3.22 and a 52-week high of $7.46.

MBIA (NYSE:MBI) last posted its quarterly earnings results on Thursday, February 27th. The insurance provider reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). The business had revenue of $29.00 million during the quarter, compared to analysts’ expectations of $28.70 million. Analysts predict that MBIA Inc. will post -3.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of MBIA from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th.

MBIA Profile

MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (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.