MBIA (NYSE:MBI - Get Free Report) announced its earnings results on Thursday. The insurance provider reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.17), Zacks reports. The firm had revenue of $29.00 million for the quarter, compared to the consensus estimate of $28.70 million.
MBIA Stock Down 8.9 %
Shares of MBIA stock traded down $0.54 on Monday, hitting $5.53. The stock had a trading volume of 866,393 shares, compared to its average volume of 436,539. The stock has a market cap of $282.20 million, a price-to-earnings ratio of -0.49 and a beta of 1.62. MBIA has a twelve month low of $3.22 and a twelve month high of $7.46. The business's 50 day moving average is $6.57 and its two-hundred day moving average is $5.28.
Insider Buying and Selling
In other news, Director Theodore Shasta sold 9,570 shares of MBIA stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $6.74, for a total value of $64,501.80. Following the transaction, the director now owns 61,794 shares in the company, valued at approximately $416,491.56. This trade represents a 13.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.58% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upgraded MBIA from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $6.50 to $9.00 in a research report on Monday, November 18th. StockNews.com lowered MBIA from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th.
View Our Latest Stock Analysis on MBIA
About MBIA
(
Get Free Report)
MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (U.S.) Public Finance Insurance, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of the U.S.
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