MBIA, Inc. (NYSE:MBI) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other equities research analysts have also recently issued reports about the stock. BTIG Research reissued a “buy” rating and issued a $14.00 price objective on shares of MBIA in a research report on Wednesday, September 6th. BidaskClub raised shares of MBIA from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $15.00 price target on shares of MBIA in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. MBIA currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Shares of MBIA (MBI) traded up 0.43% during trading on Friday, hitting $7.00. 4,640,856 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $8.82 and a 200-day moving average price of $9.08. The stock’s market cap is $880.71 million. MBIA has a one year low of $6.61 and a one year high of $11.65.

MBIA (NYSE:MBI) last released its quarterly earnings data on Tuesday, August 8th. The insurance provider reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($1.10). The business had revenue of $72.00 million for the quarter, compared to the consensus estimate of $87.85 million. MBIA’s revenue for the quarter was down 39.0% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share. Equities research analysts expect that MBIA will post ($0.76) EPS for the current fiscal year.

MBIA announced that its Board of Directors has authorized a stock repurchase program on Tuesday, June 27th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the insurance provider to buy up to 21.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Partners Capital Management LLC lifted its position in shares of MBIA by 12.4% in the 2nd quarter. Financial Partners Capital Management LLC now owns 11,294 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 1,250 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of MBIA in the 2nd quarter worth approximately $116,000. Envestnet Asset Management Inc. lifted its position in shares of MBIA by 0.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 12,484 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 99 shares during the period. Intl Fcstone Inc. purchased a new stake in shares of MBIA in the 2nd quarter worth approximately $127,000. Finally, Prudential Financial Inc. lifted its position in shares of MBIA by 2.7% in the 2nd quarter. Prudential Financial Inc. now owns 14,415 shares of the insurance provider’s stock worth $136,000 after purchasing an additional 380 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

About MBIA

MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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