MBIA (NYSE:MBI) Announces Quarterly Earnings Results

MBIA (NYSE:MBI) announced its quarterly earnings data on Thursday. The insurance provider reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.17), Zacks reports.

MBIA Stock Down 2.3 %

Shares of MBIA stock opened at $7.06 on Friday. The company has a market cap of $360.02 million, a PE ratio of -0.62 and a beta of 1.62. The business has a 50 day moving average of $6.57 and a 200 day moving average of $5.24. MBIA has a 52 week low of $3.22 and a 52 week high of $7.46.

Insider Activity at MBIA

In related news, Director Theodore Shasta sold 11,261 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $6.13, for a total transaction of $69,029.93. Following the completion of the transaction, the director now owns 71,364 shares in the company, valued at $437,461.32. This represents a 13.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.79% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on MBI. StockNews.com downgraded MBIA from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $6.50 to $9.00 in a research report on Monday, November 18th.

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.