Hedge Funds Are Betting On MBIA Inc. (MBI)

Consequently, key money managers have been driving this bullishness. Jim Simons’ Renaissance Technologies established the largest position in MBIA Inc. (NYSE:MBI). Renaissance Technologies had $1 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $0.3 million position during the quarter. The other funds with new positions in the stock are George Hall’s Clinton Group and Ken Griffin’s Citadel Investment Group.

Let’s now review hedge fund activity in other stocks similar to MBIA Inc. (NYSE:MBI). We will take a look at CIRCOR International, Inc. (NYSE:CIR), Safety Insurance Group, Inc. (NASDAQ:SAFT), MacroGenics Inc (NASDAQ:MGNX), and Mpg Office Trust Inc (NYSE:MPG). This group of stocks’ market valuations are similar to MBI’s market valuation.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $116 million. That figure was $214 million in MBI’s case. MacroGenics Inc (NASDAQ:MGNX) is the most popular stock in this table. On the other hand CIRCOR International, Inc. (NYSE:CIR) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks MBIA Inc. (NYSE:MBI) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None