MBIA (NYSE:MBI) Shares Cross Above Fifty Day Moving Average – Here’s Why

MBIA Inc. (NYSE:MBI)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.37 and traded as high as $7.07. MBIA shares last traded at $6.85, with a volume of 236,232 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com lowered MBIA from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $6.50 to $9.00 in a report on Monday, November 18th.

MBIA Stock Performance

The firm has a market cap of $349.30 million, a price-to-earnings ratio of -0.61 and a beta of 1.62. The firm’s 50 day moving average is $6.37 and its 200-day moving average is $4.95.

Insiders Place Their Bets

In other news, Director Theodore Shasta sold 11,261 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $6.13, for a total value of $69,029.93. Following the completion of the sale, the director now directly owns 71,364 shares in the company, valued at approximately $437,461.32. The trade was a 13.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard C. Vaughan sold 9,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $6.59, for a total transaction of $59,310.00. Following the completion of the transaction, the director now owns 65,635 shares in the company, valued at $432,534.65. The trade was a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,831 shares of company stock valued at $192,842 over the last quarter. Insiders own 13.79% of the company’s stock.

Institutional Investors Weigh In On MBIA

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in MBIA by 26.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 2,090 shares during the period. Seelaus Asset Management LLC bought a new stake in MBIA in the third quarter valued at about $45,000. Quantbot Technologies LP lifted its stake in MBIA by 476.5% during the third quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 11,784 shares during the period. Sanctuary Advisors LLC acquired a new stake in MBIA during the second quarter valued at approximately $83,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of MBIA in the 3rd quarter valued at approximately $173,000. 60.95% of the stock is owned by institutional investors and hedge funds.

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.