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

Shares of MBIA Inc. (NYSE:MBI) crossed below its fifty day moving average during trading on Friday . The stock has a fifty 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 trading hands.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price target on shares of MBIA from $7.50 to $6.50 and set a “market perform” rating for the company in a report on Friday, May 31st.

MBIA Stock Performance

The firm has a market capitalization of $281.53 million, a P/E ratio of -0.54 and a beta of 1.44. The firm’s 50-day moving average is $5.87 and its 200 day moving average is $6.68.

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

Insider Activity at MBIA

In other MBIA news, Director Theodore Shasta sold 21,405 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $456,090. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MBIA

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