MBIA Inc. (NYSE:MBI) Director Sells $64,501.80 in Stock

MBIA Inc. (NYSE:MBI - Get Free Report) Director Theodore Shasta sold 9,570 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $6.74, for a total value of $64,501.80. Following the sale, the director now directly owns 61,794 shares in the company, valued at $416,491.56. This trade represents a 13.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Theodore Shasta also recently made the following trade(s):

• On Monday, December 30th, Theodore Shasta sold 11,261 shares of MBIA stock. The shares were sold at an average price of $6.13, for a total value of $69,029.93.

MBIA Trading Up 3.1 %

Shares of MBI traded up $0.21 during midday trading on Monday, hitting $7.04. 526,771 shares of the company's stock traded hands, compared to its average volume of 487,257. MBIA Inc. has a 1 year low of $3.22 and a 1 year high of $7.16. The firm's fifty day moving average is $5.93 and its 200-day moving average is $4.76. The stock has a market capitalization of $359.25 million, a price-to-earnings ratio of -0.62 and a beta of 1.62.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Keefe, Bruyette & Woods raised MBIA from a "market perform" rating to an "outperform" rating and increased their target price for the company from $6.50 to $9.00 in a research report on Monday, November 18th. StockNews.com upgraded MBIA from a "sell" rating to a "hold" rating in a report on Tuesday, December 17th.

Hedge Funds Weigh In On MBIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBI. Bank of New York Mellon Corp raised its stake in MBIA by 10.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 200,447 shares of the insurance provider's stock worth $1,100,000 after acquiring an additional 19,753 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in MBIA by 9.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 430,963 shares of the insurance provider's stock worth $2,366,000 after acquiring an additional 36,691 shares during the last quarter. Renaissance Technologies LLC raised its stake in MBIA by 427.9% in the 2nd quarter. Renaissance Technologies LLC now owns 119,174 shares of the insurance provider's stock worth $654,000 after acquiring an additional 96,600 shares during the last quarter. Whitebox Advisors LLC raised its stake in MBIA by 86.8% in the 2nd quarter. Whitebox Advisors LLC now owns 794,431 shares of the insurance provider's stock worth $4,361,000 after acquiring an additional 369,255 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in MBIA by 140.8% in the 2nd quarter. Squarepoint Ops LLC now owns 92,186 shares of the insurance provider's stock worth $506,000 after acquiring an additional 53,910 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

MBIA Company Profile

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.