MBIA (NYSE:MBI) Stock Price Crosses Below 200 Day Moving Average of $6.98

Shares of MBIA Inc. (NYSE:MBIGet Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.98 and traded as low as $5.36. MBIA shares last traded at $5.39, with a volume of 393,354 shares traded.

Wall Street Analysts Forecast Growth

MBI has been the subject of several recent analyst reports. StockNews.com upgraded MBIA to a “sell” rating in a research report on Friday, February 23rd. Keefe, Bruyette & Woods dropped their price objective on MBIA from $7.50 to $6.50 and set a “market perform” rating for the company in a research report on Friday, May 31st.

Check Out Our Latest Analysis on MBIA

MBIA Price Performance

The stock has a market capitalization of $276.38 million, a P/E ratio of -0.53 and a beta of 1.44. The firm has a 50-day simple moving average of $6.16 and a 200 day simple moving average of $6.98.

MBIA (NYSE:MBIGet Free Report) last posted its earnings results 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 business had revenue of $13.00 million during the quarter, compared to analysts’ expectations of $29.00 million. During the same period in the previous year, the company earned ($0.03) EPS. Sell-side analysts anticipate that MBIA Inc. will post -0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MBIA

A number of hedge funds have recently made changes to their positions in MBI. Kahn Brothers Group Inc. raised its position in shares of MBIA by 7.2% during the first quarter. Kahn Brothers Group Inc. now owns 5,176,613 shares of the insurance provider’s stock worth $34,993,000 after acquiring an additional 347,007 shares during the last quarter. Tidal Investments LLC bought a new position in shares of MBIA during the first quarter worth about $1,105,000. Whitebox Advisors LLC raised its position in shares of MBIA by 54.5% during the first quarter. Whitebox Advisors LLC now owns 425,176 shares of the insurance provider’s stock worth $2,874,000 after acquiring an additional 150,000 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of MBIA during the first quarter worth about $324,000. Finally, Virtu Financial LLC bought a new position in shares of MBIA during the fourth quarter worth about $289,000. 60.95% of the stock is currently owned by institutional investors.

MBIA Company Profile

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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.

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