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Shasta Theodore, a director at MBIA Inc. (NYSE:MBI), recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Theodore sold 11,261 shares of MBIA common stock on December 30, 2024, at a price of $6.13 per share. The stock has since risen to $6.90, showing strong momentum with a 24% gain over the past six months according to InvestingPro data. This transaction resulted in a total sale value of $69,029. Following the sale, Theodore retains ownership of 71,364 shares of MBIA stock. This transaction was executed directly, as indicated in the filing. InvestingPro analysis shows MBIA maintains strong liquidity with a current ratio of 4.11, though the company's overall financial health score is rated as "FAIR." For deeper insights into MBIA's valuation and financial metrics, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, MBIA Inc. has reported improved financial results for Q3 2024, despite ongoing PREPA uncertainties. The company reported a consolidated GAAP net loss of $56 million, a significant improvement from the $185 million net loss in Q3 2023. However, the insured portfolio of National, a segment of MBIA Inc., saw a decrease of $2.5 billion, bringing the total to $26 billion. The company's mediation concerning PREPA has been extended to January 31, 2025, which may influence the company's sale prospects.
National reported a statutory net income of $19 million, contrasting with a loss in the previous year. The company's CEO, Bill Fallon, is considering extraordinary dividends but awaits more clarity on Puerto Rico's situation. The corporate segment holds total assets of approximately $646 million, including $326 million in unencumbered cash.
MBIA Inc. continues to focus on navigating the uncertainties surrounding Puerto Rico's financial situation. Despite these uncertainties, the company's management remains hopeful for a favorable resolution that could benefit shareholders. These are among the recent developments in the company.
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