MBIA Inc. (NYSE:MBI) saw unusually large options trading activity on Thursday. Traders acquired 25,184 call options on the company. This represents an increase of 964% compared to the average daily volume of 2,368 call options.
MBIA (NYSE:MBI) traded down 2.506% during trading on Thursday, reaching $8.755. 676,301 shares of the company were exchanged. MBIA has a 1-year low of $6.34 and a 1-year high of $11.65. The stock’s market capitalization is $1.18 billion. The company’s 50-day moving average price is $9.12 and its 200-day moving average price is $9.52.
MBIA (NYSE:MBI) last announced its quarterly earnings results on Wednesday, March 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.16. MBIA had a net margin of 1.23% and a return on equity of 1.26%. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, equities analysts forecast that MBIA will post $0.24 EPS for the current year.
A number of hedge funds have recently made changes to their positions in MBI. Creative Planning increased its stake in shares of MBIA by 16,481.5% in the first quarter. Creative Planning now owns 143,430 shares of the company’s stock worth $1,215,000 after buying an additional 142,565 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of MBIA by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 213,402 shares of the company’s stock worth $2,283,000 after buying an additional 2,277 shares in the last quarter. Norges Bank bought a new stake in shares of MBIA during the fourth quarter worth about $6,023,000. AQR Capital Management LLC increased its stake in shares of MBIA by 35.3% in the fourth quarter. AQR Capital Management LLC now owns 33,867 shares of the company’s stock worth $362,000 after buying an additional 8,840 shares in the last quarter. Finally, Guggenheim Capital LLC bought a new stake in shares of MBIA during the fourth quarter worth about $403,000. Institutional investors own 92.59% of the company’s stock.
MBI has been the subject of a number of analyst reports. MKM Partners reiterated a “buy” rating and set a $15.00 target price on shares of MBIA in a report on Thursday, March 2nd. TheStreet lowered shares of MBIA from a “c-” rating to a “d+” rating in a report on Friday, March 31st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $12.50.
ILLEGAL ACTIVITY WARNING: “Traders Purchase High Volume of Call Options on MBIA (MBI)” was published by sleekmoney and is the sole property of of sleekmoney. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright and trademark law. The correct version of this piece can be viewed at https://sleekmoney.com/traders-purchase-high-volume-of-call-options-on-mbia-mbi/1739069.html.
MBIA Company Profile
MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/traders-purchase-high-volume-of-call-options-on-mbia-mbi/1739069.html
Receive News & Ratings for MBIA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MBIA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.