MBIA Inc. (NYSE:MBI) Director Theodore Shasta Sells 21,405 Shares of Stock

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 21,405 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $5.52, for a total value of $118,155.60. Following the completion of the transaction, the director now directly owns 82,625 shares in the company, valued at $456,090. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

MBIA Stock Performance

Shares of NYSE MBI opened at $5.56 on Tuesday. MBIA Inc. has a 1 year low of $5.10 and a 1 year high of $14.37. The firm has a market cap of $284.84 million, a price-to-earnings ratio of -0.55 and a beta of 1.44. The stock’s 50-day simple moving average is $6.01 and its 200-day simple moving average is $6.88.

MBIA (NYSE:MBI) last announced its earnings results on Thursday, May 9th. The insurance provider reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.46). The firm had revenue of $13.00 million during the quarter, compared to analyst estimates of $29.00 million. During the same quarter last year, the firm posted ($0.03) earnings per share. As a group, research analysts predict that MBIA Inc. will post -0.75 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Keefe, Bruyette & Woods cut their price objective on MBIA from $7.50 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, May 31st. StockNews.com raised MBIA to a “sell” rating in a research report on Friday, February 23rd.

Institutional Trading of MBIA

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in MBIA in the fourth quarter valued at about $25,000. SRS Capital Advisors Inc. increased its holdings in MBIA by 28.6% in the third quarter. SRS Capital Advisors Inc. now owns 7,721 shares of the insurance provider’s stock valued at $56,000 after buying an additional 1,718 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in MBIA by 21.6% in the fourth quarter. Neuberger Berman Group LLC now owns 12,910 shares of the insurance provider’s stock valued at $79,000 after buying an additional 2,295 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in MBIA in the fourth quarter valued at about $80,000. Finally, Diversified Trust Co increased its holdings in MBIA by 19.1% in the fourth quarter. Diversified Trust Co now owns 14,141 shares of the insurance provider’s stock valued at $87,000 after buying an additional 2,271 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

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.