MBIA Inc. (NYSE:MBI - Get Free Report)'s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $6.27 and traded as low as $5.34. MBIA shares last traded at $5.37, with a volume of 173,743 shares traded.
Analysts Set New Price Targets
Separately, StockNews.com cut shares of MBIA from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th.
Read Our Latest Stock Report on MBIA
MBIA Price Performance
The company has a market capitalization of $255.82 million, a price-to-earnings ratio of -0.44 and a beta of 1.64. The firm has a fifty day simple moving average of $6.18 and a 200 day simple moving average of $5.48.
MBIA (NYSE:MBI - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The insurance provider reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.17). The company had revenue of $29.00 million for the quarter, compared to analysts' expectations of $28.70 million. Research analysts predict that MBIA Inc. will post -3.5 EPS for the current year.
Insider Activity at MBIA
In other news, Director Theodore Shasta sold 9,570 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $6.74, for a total value of $64,501.80. Following the completion of the sale, the director now directly owns 61,794 shares in the company, valued at $416,491.56. This represents a 13.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.58% of the stock is owned by corporate insiders.
Institutional Trading of MBIA
A number of hedge funds have recently bought and sold shares of MBI. Wolf Hill Capital Management LP purchased a new position in MBIA during the fourth quarter worth approximately $18,608,000. Hosking Partners LLP boosted its position in shares of MBIA by 1.9% during the 4th quarter. Hosking Partners LLP now owns 1,596,297 shares of the insurance provider's stock valued at $10,312,000 after acquiring an additional 29,918 shares during the last quarter. State Street Corp grew its holdings in shares of MBIA by 3.6% in the third quarter. State Street Corp now owns 1,015,523 shares of the insurance provider's stock valued at $3,625,000 after purchasing an additional 35,104 shares during the period. Geode Capital Management LLC increased its position in MBIA by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 999,713 shares of the insurance provider's stock worth $6,459,000 after purchasing an additional 19,263 shares during the last quarter. Finally, Whitebox Advisors LLC grew its stake in shares of MBIA by 6.3% in the 3rd quarter. Whitebox Advisors LLC now owns 844,431 shares of the insurance provider's stock valued at $3,015,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 60.95% of the company's stock.
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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