MBIA (NYSE:MBI) Stock Price Passes Below 50-Day Moving Average – Here’s What Happened

MBIA, Inc. (NYSE:MBI)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.30 and traded as low as $7.02. MBIA shares last traded at $7.10, with a volume of 157,147 shares changing hands.

Wall Street Analyst Weigh In

MBI has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBIA in a report on Wednesday, October 8th. Wall Street Zen upgraded MBIA from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of MBIA from $8.00 to $8.50 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MBIA presently has an average rating of “Hold” and a consensus target price of $8.50.

MBIA Stock Performance

The company has a market capitalization of $358.48 million, a PE ratio of -1.95 and a beta of 1.89. The stock has a 50 day moving average price of $7.30 and a two-hundred day moving average price of $6.50.

MBIA (NYSE:MBI) last released its quarterly earnings data on Tuesday, November 4th. The insurance provider reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). The company had revenue of $13.00 million during the quarter, compared to analysts’ expectations of $21.00 million. Sell-side analysts predict that MBIA, Inc. will post -3.5 earnings per share for the current year.

Institutional Investors Weigh In On MBIA

Several institutional investors and hedge funds have recently modified their holdings of MBI. PharVision Advisers LLC bought a new stake in MBIA during the 3rd quarter valued at approximately $214,000. Quarry LP bought a new stake in shares of MBIA in the third quarter valued at approximately $37,000. Alliancebernstein L.P. boosted its position in shares of MBIA by 2.5% in the third quarter. Alliancebernstein L.P. now owns 78,540 shares of the insurance provider’s stock valued at $585,000 after acquiring an additional 1,900 shares during the period. Shay Capital LLC grew its stake in shares of MBIA by 16.0% in the third quarter. Shay Capital LLC now owns 45,000 shares of the insurance provider’s stock worth $335,000 after acquiring an additional 6,210 shares during the last quarter. Finally, UBS Group AG increased its position in MBIA by 72.9% during the third quarter. UBS Group AG now owns 1,026,406 shares of the insurance provider’s stock worth $7,647,000 after acquiring an additional 432,906 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

About MBIA

MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.

Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.