MBIA (NYSE:MBI) Reaches New 1-Year Low at $10.25

MBIA Inc. (NYSE:MBI – Get Rating) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $10.25 and last traded at $10.91, with a volume of 409363 shares changing hands. The stock had previously closed at $10.64.

MBIA Price Performance

The company has a market cap of $598.49 million, a P/E ratio of -1.42 and a beta of 1.09. The company has a fifty day simple moving average of $12.79 and a 200-day simple moving average of $13.53.

MBIA (NYSE:MBI – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The insurance provider reported ($1.94) earnings per share (EPS) for the quarter. The business had revenue of $40.00 million during the quarter.

Hedge Funds Weigh In On MBIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBI. Allspring Global Investments Holdings LLC purchased a new position in MBIA during the 2nd quarter worth approximately $40,000. Great West Life Assurance Co. Can grew its holdings in shares of MBIA by 105.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,782 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 1,430 shares in the last quarter. GoalVest Advisory LLC purchased a new position in shares of MBIA during the 1st quarter valued at $77,000. Amalgamated Bank purchased a new position in shares of MBIA during the 1st quarter valued at $89,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of MBIA during the 2nd quarter valued at $118,000. 69.64% of the stock is currently owned by hedge funds and other institutional investors.

About MBIA

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MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through 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.