Theodore Shasta Sells 11,261 Shares of MBIA Inc. (NYSE:MBI) Stock

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 11,261 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $6.13, for a total value of $69,029.93. Following the completion of the transaction, the director now owns 71,364 shares of the company’s stock, valued at $437,461.32. This trade represents a 13.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

MBIA Stock Up 6.8 %

Shares of MBI traded up $0.44 during mid-day trading on Thursday, reaching $6.90. 627,579 shares of the stock traded hands, compared to its average volume of 482,425. The firm has a market cap of $352.11 million, a price-to-earnings ratio of -0.61 and a beta of 1.61. The stock has a fifty day simple moving average of $5.74 and a 200 day simple moving average of $4.74. MBIA Inc. has a 12-month low of $3.22 and a 12-month high of $7.16.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MBI shares. Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $6.50 to $9.00 in a research report on Monday, November 18th. StockNews.com upgraded shares of MBIA from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th.

Institutional Investors Weigh In On MBIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MBI. BNP Paribas Financial Markets increased its position in shares of MBIA by 26.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 2,090 shares during the last quarter. Seelaus Asset Management LLC acquired a new position in MBIA in the third quarter valued at approximately $45,000. Quantbot Technologies LP lifted its stake in MBIA by 476.5% in the third quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock valued at $51,000 after buying an additional 11,784 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in MBIA during the 2nd quarter valued at $83,000. Finally, K2 Principal Fund L.P. acquired a new position in shares of MBIA during the third quarter valued at approximately $173,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.