Short Interest in MBIA Inc. (NYSE:MBI) Drops By 19.0%

MBIA Inc. (NYSE:MBI) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,710,000 shares, a decline of 19.0% from the November 15th total of 2,110,000 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average trading volume of 477,500 shares, the short-interest ratio is presently 3.6 days.

MBIA Stock Performance

Shares of MBI stock traded down $0.13 on Friday, reaching $6.10. 147,338 shares of the company’s stock traded hands, compared to its average volume of 488,985. The business’s 50 day moving average price is $5.11 and its two-hundred day moving average price is $4.69. The company has a market capitalization of $311.28 million, a P/E ratio of -0.54 and a beta of 1.61. MBIA has a 12-month low of $3.22 and a 12-month high of $14.37.

Insider Buying and Selling

In other news, Director Richard C. Vaughan sold 9,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $6.59, for a total transaction of $59,310.00. Following the completion of the sale, the director now directly owns 65,635 shares of the company’s stock, valued at $432,534.65. This trade represents a 12.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MBIA

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

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $6.50 to $9.00 in a report on Monday, November 18th.

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.