MBIA (NYSE:MBI) Share Price Crosses Above 50-Day Moving Average - Here's What Happened

Shares of MBIA Inc. (NYSE:MBI - Get Free Report) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.36 and traded as high as $6.45. MBIA shares last traded at $6.06, with a volume of 376,386 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on MBI shares. StockNews.com downgraded shares of MBIA from a "hold" rating to a "sell" rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded shares of MBIA from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $6.50 to $9.00 in a research report on Monday, November 18th.

MBIA Trading Up 2.4 %

The company has a market cap of $316.18 million, a PE ratio of -0.55 and a beta of 1.62. The stock has a 50 day moving average price of $6.36 and a 200 day moving average price of $4.82.

Insider Buying and Selling at MBIA

In other MBIA news, Director Richard C. Vaughan sold 9,000 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $6.59, for a total value of $59,310.00. Following the sale, the director now owns 65,635 shares in the company, valued at approximately $432,534.65. This represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodore Shasta sold 11,261 shares of MBIA stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $6.13, for a total transaction of $69,029.93. Following the transaction, the director now owns 71,364 shares of the company's stock, valued at $437,461.32. The trade was a 13.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,831 shares of company stock valued at $192,842. 13.79% of the stock is currently owned by company insiders.

Institutional Trading of MBIA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in shares of MBIA by 26.6% during the third quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider's stock valued at $35,000 after buying an additional 2,090 shares during the last quarter. Seelaus Asset Management LLC purchased a new stake in MBIA during the 3rd quarter valued at $45,000. Quantbot Technologies LP increased its holdings in shares of MBIA by 476.5% in the 3rd quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider's stock worth $51,000 after purchasing an additional 11,784 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of MBIA in the 2nd quarter worth $83,000. Finally, K2 Principal Fund L.P. bought a new position in shares of MBIA during the third quarter valued at $173,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

About MBIA

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.