Renaissance Technologies LLC Decreases Stake in MBIA Inc. (NYSE:MBI)

Renaissance Technologies LLC reduced its holdings in shares of MBIA Inc. (NYSE:MBI) by 66.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,668 shares of the insurance provider’s stock after selling 266,610 shares during the period. Renaissance Technologies LLC owned about 0.26% of MBIA worth $863,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TCW Group Inc. boosted its holdings in shares of MBIA by 53.3% during the 4th quarter. TCW Group Inc. now owns 706,560 shares of the insurance provider’s stock valued at $4,564,000 after purchasing an additional 245,760 shares during the last quarter. Freestone Capital Holdings LLC bought a new position in MBIA during the fourth quarter valued at approximately $1,159,000. Trexquant Investment LP grew its holdings in MBIA by 557.9% during the 4th quarter. Trexquant Investment LP now owns 109,542 shares of the insurance provider’s stock valued at $708,000 after buying an additional 92,892 shares in the last quarter. Barclays PLC increased its stake in MBIA by 279.1% in 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. Finally, Jane Street Group LLC raised its holdings 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. 60.95% of the stock is owned by hedge funds and other institutional investors.

MBIA Price Performance

Shares of NYSE:MBI opened at $4.66 on Friday. The business has a 50 day simple moving average of $4.98 and a two-hundred day simple moving average of $5.62. MBIA Inc. has a 1 year low of $3.22 and a 1 year high of $7.46. The firm has a market capitalization of $234.48 million, a PE ratio of -0.41 and a beta of 1.80.

MBIA (NYSE:MBI) last released its earnings results on Thursday, February 27th. The insurance provider reported ($0.48) earnings per share 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 analyst estimates of $28.70 million. Equities research analysts expect that MBIA Inc. will post -3.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MBI has been the subject of a number of analyst reports. StockNews.com downgraded shares of MBIA from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Keefe, Bruyette & Woods lowered their price objective on MBIA from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Tuesday.

About MBIA

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.