Quinn Opportunity Partners buys $1,986,175 stake in MBIA (MBI)

MBIA (MBI) : Quinn Opportunity Partners scooped up 17,000 additional shares in MBIA during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 244,302 shares of MBIA which is valued at $1,986,175.MBIA makes up approximately 0.72% of Quinn Opportunity Partners’s portfolio.

Other Hedge Funds, Including , Panagora Asset Management Inc reduced its stake in MBI by selling 5,970 shares or 9.72% in the most recent quarter. The Hedge Fund company now holds 55,457 shares of MBI which is valued at $450,865.Grantham Mayo Van Otterloo boosted its stake in MBI in the latest quarter, The investment management firm added 279,466 additional shares and now holds a total of 1,054,666 shares of MBIA which is valued at $8,574,435. MBIA makes up approx 0.03% of Grantham Mayo Van Otterloo’s portfolio.Blackrock Advisors boosted its stake in MBI in the latest quarter, The investment management firm added 5,228 additional shares and now holds a total of 64,289 shares of MBIA which is valued at $522,670. Tower Research Capital (trc) sold out all of its stake in MBI during the most recent quarter. The investment firm sold 1,500 shares of MBI which is valued $12,195.Quantitative Investment Management reduced its stake in MBI by selling 132,300 shares or 83.95% in the most recent quarter. The Hedge Fund company now holds 25,300 shares of MBI which is valued at $207,713. MBIA makes up approx 0.01% of Quantitative Investment Management’s portfolio.

MBIA opened for trading at $7.87 and hit $8 on the upside on Wednesday, eventually ending the session at $7.98, with a gain of 1.40% or 0.11 points. The heightened volatility saw the trading volume jump to 713,251 shares. Company has a market cap of $1,082 M.

On the company’s financial health, MBIA reported $0.12 EPS for the quarter, based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus estimate of $0.12. The company had revenue of $118.00 million for the quarter, compared to analysts expectations of $124.55 million. The company’s revenue was down -51.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.11 EPS.

MBIA Inc. (MBIA) is a holding company. Through its subsidiary the Company provides financial guarantee insurance to the United States public finance markets. The Company’s indirect wholly owned subsidiary is National Public Finance Guarantee Corporation (National). The Company’s operating segments includes United States (U.S.) public finance insurance; international and structured finance insurance; corporate and advisory services. The U.S. public finance insurance business is operated through National Public Finance Guarantee Corporation and its subsidiaries (National). The international and structured finance insurance business is operated through MBIA Insurance Corporation and its subsidiaries (MBIA Corp.). The asset management and advisory services business is operated through Cutwater Holdings LLC and its subsidiaries (Cutwater). National’s guarantees insure municipal bonds including tax-exempt and taxable indebtedness of the United States political subdivisions.

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