Stone Ridge Asset Management Exits Position in MBIA (MBI)

MBIA (MBI) : Stone Ridge Asset Management has sold out all of its stake in MBIA during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 17,600 shares of MBIA which is valued at $143,088.

Other Hedge Funds, Including , First Republic Investment Management boosted its stake in MBI in the latest quarter, The investment management firm added 1,952 additional shares and now holds a total of 21,786 shares of MBIA which is valued at $177,120.Proshare Advisors reduced its stake in MBI by selling 76 shares or 0.43% in the most recent quarter. The Hedge Fund company now holds 17,479 shares of MBI which is valued at $142,104. Assetmark Inc sold out all of its stake in MBI during the most recent quarter. The investment firm sold 4 shares of MBI which is valued $32.

MBIA closed down -0.08 points or -0.99% at $7.98 with 12,10,936 shares getting traded on Thursday. Post opening the session at $8.1, the shares hit an intraday low of $7.92 and an intraday high of $8.16 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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