Commonwealth Bank of Australia Invests $1.14 Million in MBIA Inc. (MBI)

Commonwealth Bank of Australia bought a new position in shares of MBIA Inc. (NYSE:MBI) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 106,200 shares of the insurance provider’s stock, valued at approximately $1,135,000.

Other hedge funds have also made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its stake 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 worth $11,159,000 after buying an additional 153,216 shares during the period. LPL Financial LLC acquired a new position in shares of MBIA during the 1st quarter worth approximately $129,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of MBIA during the 2nd quarter worth approximately $652,000. Russell Investments Group Ltd. raised its stake in shares of MBIA by 2.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,333,146 shares of the insurance provider’s stock worth $24,942,000 after buying an additional 65,672 shares during the period. Finally, GSA Capital Partners LLP raised its stake 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 worth $628,000 after buying an additional 54,629 shares during the period.

Shares of MBI stock opened at $9.42 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 4.67. MBIA Inc. has a 1-year low of $6.88 and a 1-year 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 for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.01). The business had revenue of $105.00 million for the quarter, compared to analyst estimates of $58.50 million. MBIA had a negative return on equity of 25.28% and a negative net margin of 73.92%. The company’s quarterly revenue was up 218.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.91) earnings per share.

In related news, major shareholder Fine Capital Partners, L.P. sold 115,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $9.05, for a total transaction of $1,040,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 918,005 shares of company stock valued at $8,883,555. Corporate insiders own 4.11% of the company’s stock.

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MBIA 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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