MBIA (NYSE:MBI) Share Price Passes Below 50-Day Moving Average of $5.87

MBIA Inc. (NYSE:MBI)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $5.87 and traded as low as $5.40. MBIA shares last traded at $5.49, with a volume of 530,128 shares.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reduced their price objective on shares of MBIA from $7.50 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, May 31st.

MBIA Stock Down 0.2 %

The business’s 50 day moving average price is $5.87 and its two-hundred day moving average price is $6.64.

MBIA (NYSE:MBI) last posted its quarterly earnings results on Thursday, May 9th. The insurance provider reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.46). The firm had revenue of $13.00 million for the quarter, compared to the consensus estimate of $29.00 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. Sell-side analysts anticipate that MBIA Inc. will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Theodore Shasta sold 21,405 shares of MBIA stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $5.52, for a total transaction of $118,155.60. Following the sale, the director now directly owns 82,625 shares in the company, valued at approximately $456,090. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 12.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MBIA

Several hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new stake in MBIA during the 1st quarter worth approximately $1,105,000. Kahn Brothers Group Inc. raised its holdings in MBIA by 7.2% during the 1st quarter. Kahn Brothers Group Inc. now owns 5,176,613 shares of the insurance provider’s stock worth $34,993,000 after purchasing an additional 347,007 shares during the last quarter. Whitebox Advisors LLC raised its holdings in MBIA by 54.5% during the 1st quarter. Whitebox Advisors LLC now owns 425,176 shares of the insurance provider’s stock worth $2,874,000 after purchasing an additional 150,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MBIA by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 58,617 shares of the insurance provider’s stock worth $397,000 after purchasing an additional 1,972 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in MBIA during the 1st quarter worth approximately $324,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.