MBIA Inc. (MBI) Major Shareholder Fine Capital Partners, L.P. Sells 358,000 Shares

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MBIA Inc. (NYSE:MBI) major shareholder Fine Capital Partners, L.P. sold 358,000 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $10.07, for a total value of $3,605,060.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Fine Capital Partners, L.P. also recently made the following trade(s):

  • On Wednesday, November 7th, Fine Capital Partners, L.P. sold 200,000 shares of MBIA stock. The stock was sold at an average price of $10.09, for a total value of $2,018,000.00.

MBIA stock traded down $0.59 during trading hours on Friday, reaching $9.47. 1,559,059 shares of the company were exchanged, compared to its average volume of 1,238,651. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 4.91. MBIA Inc. has a 12 month low of $6.88 and a 12 month high of $11.62.

MBIA (NYSE:MBI) last announced its earnings results on Tuesday, November 6th. The insurance provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The company had revenue of $105.00 million for the quarter, compared to the consensus estimate of $58.50 million. MBIA had a negative return on equity of 24.55% and a negative net margin of 73.92%. The firm’s revenue for the quarter was up 218.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.91) EPS.

A number of institutional investors have recently made changes to their positions in MBI. Davidson Kempner Capital Management LP boosted its position in MBIA by 79.6% during the second quarter. Davidson Kempner Capital Management LP now owns 2,592,669 shares of the insurance provider’s stock worth $23,438,000 after purchasing an additional 1,149,328 shares during the period. Millennium Management LLC boosted its position in MBIA by 228.5% during the second quarter. Millennium Management LLC now owns 1,021,057 shares of the insurance provider’s stock worth $9,230,000 after purchasing an additional 710,212 shares during the period. Schwab Charles Investment Management Inc. boosted its position in MBIA by 14.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,234,319 shares of the insurance provider’s stock worth $11,159,000 after purchasing an additional 153,216 shares during the period. Commonwealth Bank of Australia bought a new stake in MBIA during the third quarter worth approximately $1,135,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in MBIA during the second quarter worth approximately $652,000.

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MBIA Company Profile

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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