MBIA (NYSE:MBI) Issues Earnings Results

MBIA (NYSE:MBI) issued its quarterly earnings data on Thursday. The insurance provider reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.17), Zacks reports.

MBIA Price Performance

Shares of MBI opened at $7.06 on Friday. The firm has a market cap of $360.02 million, a P/E ratio of -0.62 and a beta of 1.62. The stock has a 50 day simple moving average of $6.57 and a two-hundred day simple moving average of $5.24. MBIA has a 1 year low of $3.22 and a 1 year high of $7.46.

Insiders Place Their Bets

In other MBIA news, Director Theodore Shasta sold 11,261 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $6.13, for a total value of $69,029.93. Following the completion of the sale, the director now owns 71,364 shares of the company’s stock, valued at $437,461.32. This represents a 13.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.79% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MBI. StockNews.com lowered MBIA from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Keefe, Bruyette & Woods raised MBIA from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $6.50 to $9.00 in a report on Monday, November 18th.

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.