Creative Planning Trims Holdings in MBIA Inc. (MBI)

Creative Planning decreased its position in shares of MBIA Inc. (NYSE:MBI) by 24.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,000 shares of the insurance provider’s stock after selling 11,100 shares during the quarter. Creative Planning’s holdings in MBIA were worth $363,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Davidson Kempner Capital Management LP raised its position in shares of MBIA by 79.6% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 2,592,669 shares of the insurance provider’s stock valued at $23,438,000 after acquiring an additional 1,149,328 shares during the last quarter. Millennium Management LLC raised its position in shares of MBIA by 228.5% during the 2nd quarter. Millennium Management LLC now owns 1,021,057 shares of the insurance provider’s stock valued at $9,230,000 after acquiring an additional 710,212 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of MBIA by 14.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,234,319 shares of the insurance provider’s stock valued at $11,159,000 after acquiring an additional 153,216 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of MBIA during the 2nd quarter valued at $652,000. Finally, GSA Capital Partners LLP raised its position in shares of MBIA by 367.4% during the 2nd quarter. GSA Capital Partners LLP now owns 69,500 shares of the insurance provider’s stock valued at $628,000 after acquiring an additional 54,629 shares during the last quarter.

Shares of MBIA stock opened at $10.06 on Friday. MBIA Inc. has a 52 week low of $6.88 and a 52 week high of $11.62. The company has a debt-to-equity ratio of 4.91, a quick ratio of 1.79 and a current ratio of 1.79.

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

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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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Institutional Ownership by Quarter for MBIA (NYSE:MBI)

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