MBIA (NYSE:MBI) Shares Cross Above Fifty Day Moving Average – Here’s Why

MBIA Inc. (NYSE:MBI) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $6.37 and traded as high as $7.07. MBIA shares last traded at $6.85, with a volume of 236,232 shares.

Analyst Ratings Changes

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

MBIA Stock Down 1.8 %

The firm has a market capitalization of $349.30 million, a price-to-earnings ratio of -0.61 and a beta of 1.62. The firm’s 50 day moving average is $6.37 and its 200 day moving average is $4.95.

Insider Buying and Selling

In related news, Director Theodore Shasta sold 11,261 shares of the stock in a transaction 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 transaction, the director now owns 71,364 shares in the company, valued at $437,461.32. This trade represents a 13.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard C. Vaughan sold 9,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $432,534.65. The trade was a 12.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,831 shares of company stock worth $192,842 in the last three months. 13.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MBIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC lifted its holdings in shares of MBIA by 140.8% in the second quarter. Squarepoint Ops LLC now owns 92,186 shares of the insurance provider’s stock valued at $506,000 after purchasing an additional 53,910 shares in the last quarter. AQR Capital Management LLC purchased a new stake in MBIA in the 2nd quarter worth about $414,000. Sanctuary Advisors LLC purchased a new stake in MBIA in the 2nd quarter worth about $83,000. SG Americas Securities LLC boosted its position in MBIA by 18.7% during the 3rd quarter. SG Americas Securities LLC now owns 74,919 shares of the insurance provider’s stock worth $267,000 after acquiring an additional 11,811 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of MBIA by 321.0% in the 3rd quarter. GSA Capital Partners LLP now owns 316,234 shares of the insurance provider’s stock valued at $1,129,000 after purchasing an additional 241,116 shares during the period. Institutional investors and hedge funds 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.