Insider Selling: MBIA Inc. (NYSE:MBI) Director Sells 9,000 Shares of Stock

MBIA Inc. (NYSE:MBI) Director Richard C. Vaughan sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was 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 of the company’s stock, valued at $432,534.65. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

MBIA Price Performance

Shares of MBI traded down $0.02 during mid-day trading on Thursday, hitting $6.58. 507,861 shares of the company traded hands, compared to its average volume of 491,005. The business has a 50-day moving average of $4.06 and a 200 day moving average of $4.61. MBIA Inc. has a one year low of $3.22 and a one year high of $14.37.

Institutional Trading of MBIA

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC grew its stake in MBIA by 279.1% in the third quarter. Barclays PLC now owns 58,406 shares of the insurance provider’s stock valued at $209,000 after acquiring an additional 42,998 shares during the period. TCW Group Inc. increased its position in shares of MBIA by 76.3% during the third quarter. TCW Group Inc. now owns 460,800 shares of the insurance provider’s stock worth $1,645,000 after acquiring an additional 199,500 shares in the last quarter. K2 Principal Fund L.P. acquired a new stake in shares of MBIA during the third quarter worth $173,000. Jane Street Group LLC boosted its stake in MBIA by 70.5% in the 3rd quarter. Jane Street Group LLC now owns 78,814 shares of the insurance provider’s stock worth $281,000 after purchasing an additional 32,591 shares during the period. Finally, Whitebox Advisors LLC raised its holdings in shares of MBIA by 6.3% in the third quarter. Whitebox Advisors LLC now owns 844,431 shares of the insurance provider’s stock valued at $3,015,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

MBI has been the topic of several research reports. Roth Mkm dropped their price objective on shares of MBIA from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods upgraded shares of MBIA from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $6.50 to $9.00 in a research note on Monday.

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.