MBIA (NYSE:MBI - Get Free Report) was upgraded by analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $9.00 target price on the insurance provider's stock, up from their prior target price of $6.50. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 37.40% from the stock's current price.
Separately, Roth Mkm cut their price target on shares of MBIA from $7.00 to $4.50 and set a "neutral" rating on the stock in a report on Wednesday, August 7th.
Read Our Latest Report on MBI
MBIA Stock Performance
Shares of NYSE MBI traded up $0.52 during trading hours on Monday, hitting $6.55. The company's stock had a trading volume of 3,564,155 shares, compared to its average volume of 482,501. The business has a 50-day simple moving average of $3.87 and a 200-day simple moving average of $4.59. The stock has a market cap of $334.25 million, a price-to-earnings ratio of -0.59 and a beta of 1.41. MBIA has a 12 month low of $3.22 and a 12 month high of $14.37.
Hedge Funds Weigh In On MBIA
Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in MBIA by 26.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider's stock worth $35,000 after purchasing an additional 2,090 shares in the last quarter. Seelaus Asset Management LLC bought a new position in MBIA during the third quarter valued at approximately $45,000. Quantbot Technologies LP grew its holdings in MBIA by 476.5% during the 3rd quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider's stock valued at $51,000 after buying an additional 11,784 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of MBIA during the 2nd quarter worth approximately $83,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of MBIA by 19.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,714 shares of the insurance provider's stock valued at $106,000 after acquiring an additional 2,587 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.
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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