Wall Street Zen Downgrades MBIA (NYSE:MBI) to Sell

MBIA (NYSE:MBI) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other brokerages have also recently commented on MBI. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBIA in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price objective on shares of MBIA from $8.00 to $8.50 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MBIA presently has an average rating of “Hold” and a consensus target price of $8.50.

MBIA Price Performance

Shares of NYSE:MBI opened at $6.59 on Friday. The business’s 50 day moving average price is $6.60 and its 200-day moving average price is $7.10. MBIA has a 1 year low of $3.86 and a 1 year high of $8.26. The firm has a market capitalization of $332.86 million, a price-to-earnings ratio of -1.84 and a beta of 1.87.

MBIA (NYSE:MBI) last issued its quarterly earnings results on Thursday, February 26th. The insurance provider reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.19). The company had revenue of $28.00 million for the quarter, compared to the consensus estimate of $26.50 million. On average, sell-side analysts expect that MBIA will post -3.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. raised its stake in shares of MBIA by 20.2% in the fourth quarter. Invesco Ltd. now owns 62,437 shares of the insurance provider’s stock valued at $447,000 after acquiring an additional 10,492 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in MBIA during the 4th quarter worth $113,000. XTX Topco Ltd purchased a new stake in MBIA during the 4th quarter worth about $208,000. Tudor Investment Corp ET AL increased its holdings in MBIA by 453.9% during the 4th quarter. Tudor Investment Corp ET AL now owns 249,048 shares of the insurance provider’s stock worth $1,783,000 after purchasing an additional 204,083 shares during the period. Finally, Millennium Management LLC raised its position in MBIA by 8.7% in the 4th quarter. Millennium Management LLC now owns 43,823 shares of the insurance provider’s stock valued at $314,000 after purchasing an additional 3,509 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

MBIA Company Profile

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.