MBIA, Inc. (NYSE:MBI – Get Free Report)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.99 and traded as high as $6.27. MBIA shares last traded at $6.1850, with a volume of 175,979 shares trading hands.
Analyst Ratings Changes
A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price target on MBIA from $8.50 to $7.50 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Wall Street Zen upgraded MBIA from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MBIA in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.50.
Read Our Latest Stock Report on MBIA
MBIA Price Performance
MBIA (NYSE:MBI – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The insurance provider reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $24.00 million during the quarter, compared to the consensus estimate of $5.80 million. As a group, research analysts predict that MBIA, Inc. will post -0.29 EPS for the current fiscal year.
Institutional Trading of MBIA
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wolf Hill Capital Management LP grew its holdings in MBIA by 4.5% in the 4th quarter. Wolf Hill Capital Management LP now owns 2,560,708 shares of the insurance provider’s stock valued at $18,335,000 after buying an additional 110,544 shares during the period. Geode Capital Management LLC grew its holdings in MBIA by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,043,095 shares of the insurance provider’s stock valued at $4,528,000 after buying an additional 14,336 shares during the period. Kahn Brothers Group Inc. purchased a new stake in MBIA in the 3rd quarter valued at about $7,672,000. UBS Group AG grew its holdings in MBIA by 72.9% in the 3rd quarter. UBS Group AG now owns 1,026,406 shares of the insurance provider’s stock valued at $7,647,000 after buying an additional 432,906 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of MBIA by 184.1% in the 2nd quarter. Marshall Wace LLP now owns 416,964 shares of the insurance provider’s stock worth $1,810,000 after purchasing an additional 270,192 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.
About MBIA
MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.
Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.
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