MBIA (NYSE:MBI) Shares Pass Below Fifty Day Moving Average of $6.53

MBIA Inc. (NYSE:MBI) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.53 and traded as low as $6.39. MBIA shares last traded at $6.41, with a volume of 316,660 shares trading hands.

Wall Street Analysts Forecast Growth

MBI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their price target on MBIA from $9.00 to $7.50 and set a “market perform” rating on the stock in a research report on Monday, April 1st. StockNews.com raised MBIA to a “sell” rating in a report on Friday, February 23rd.

MBIA Trading Down 6.0 %

The business has a fifty day moving average of $6.53 and a 200-day moving average of $7.12. The firm has a market cap of $328.68 million, a PE ratio of -0.63 and a beta of 1.46.

MBIA (NYSE:MBI) last issued its quarterly earnings data on Wednesday, February 28th. The insurance provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.20). The company had revenue of ($31.00) million during the quarter, compared to analyst estimates of $32.00 million. During the same quarter last year, the business earned $0.30 earnings per share. On average, equities analysts forecast that MBIA Inc. will post -0.3 EPS for the current year.

Institutional Trading of MBIA

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Securities Inc. purchased a new stake in shares of MBIA in the 4th quarter valued at about $25,000. SRS Capital Advisors Inc. raised its holdings in shares of MBIA by 28.6% in the 3rd quarter. SRS Capital Advisors Inc. now owns 7,721 shares of the insurance provider’s stock valued at $56,000 after acquiring an additional 1,718 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of MBIA in the 3rd quarter valued at about $61,000. Neuberger Berman Group LLC raised its holdings in shares of MBIA by 21.6% in the 4th quarter. Neuberger Berman Group LLC now owns 12,910 shares of the insurance provider’s stock valued at $79,000 after acquiring an additional 2,295 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of MBIA in the 4th quarter valued at about $80,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.