Keefe, Bruyette & Woods Has Lowered Expectations for MBIA (NYSE:MBI) Stock Price

MBIA (NYSE:MBI) had its target price decreased by equities researchers at Keefe, Bruyette & Woods from $8.50 to $7.50 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 29.78% from the stock’s current price.

Several other equities analysts also recently commented on the company. Wall Street Zen downgraded MBIA from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBIA in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.50.

MBIA Trading Down 0.0%

NYSE:MBI opened at $5.78 on Thursday. The firm has a fifty day simple moving average of $6.39 and a two-hundred day simple moving average of $6.98. The stock has a market capitalization of $291.90 million, a price-to-earnings ratio of -1.61 and a beta of 1.87. MBIA has a 12 month low of $3.86 and a 12 month high of $8.26.

MBIA (NYSE:MBI) last announced its quarterly earnings results on Thursday, February 26th. The insurance provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). The business had revenue of $28.00 million for the quarter, compared to analyst estimates of $26.50 million. Equities analysts predict that MBIA will post -3.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MBIA

Institutional investors and hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC purchased a new position in shares of MBIA during the 3rd quarter valued at about $29,000. Quarry LP bought a new position in shares of MBIA during the 3rd quarter valued at about $37,000. Dynamic Technology Lab Private Ltd purchased a new position in MBIA during the 3rd quarter valued at approximately $77,000. Inscription Capital LLC bought a new stake in shares of MBIA in the 3rd quarter worth about $78,000. Finally, AQR Capital Management LLC bought a new stake in MBIA during the fourth quarter worth approximately $83,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.