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

MBIA Inc. (NYSE:MBI)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $6.36 and traded as high as $6.45. MBIA shares last traded at $6.06, with a volume of 376,386 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MBI shares. StockNews.com downgraded shares of MBIA from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods raised MBIA from a “market perform” rating to an “outperform” rating and upped their target price for the company from $6.50 to $9.00 in a report on Monday, November 18th.

MBIA Stock Down 3.8 %

The company has a market capitalization of $303.99 million, a P/E ratio of -0.53 and a beta of 1.62. The business has a 50 day simple moving average of $6.39 and a 200-day simple moving average of $4.83.

Insider Activity at MBIA

In other news, Director Richard C. Vaughan sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $6.59, for a total value of $59,310.00. Following the sale, the director now owns 65,635 shares of the company’s stock, valued at approximately $432,534.65. The trade was a 12.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore Shasta sold 9,570 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $6.74, for a total transaction of $64,501.80. Following the sale, the director now owns 61,794 shares of the company’s stock, valued at $416,491.56. The trade was a 13.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,831 shares of company stock worth $192,842 in the last ninety days. 13.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MBI. TCW Group Inc. raised its holdings in shares of MBIA by 76.3% during the third quarter. TCW Group Inc. now owns 460,800 shares of the insurance provider’s stock worth $1,645,000 after acquiring an additional 199,500 shares in the last quarter. Barclays PLC raised its stake in shares of MBIA by 279.1% during the 3rd quarter. Barclays PLC now owns 58,406 shares of the insurance provider’s stock worth $209,000 after purchasing an additional 42,998 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of MBIA by 321.0% during the 3rd quarter. GSA Capital Partners LLP now owns 316,234 shares of the insurance provider’s stock valued at $1,129,000 after buying an additional 241,116 shares during the last quarter. BNP Paribas Financial Markets grew its stake 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 valued at $35,000 after buying an additional 2,090 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in MBIA by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 384,482 shares of the insurance provider’s stock worth $1,373,000 after buying an additional 14,255 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

MBIA Company Profile

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.