MBIA (NYSE:MBI) Share Price Passes Below Fifty Day Moving Average – Should You Sell?

Shares of MBIA, Inc. (NYSE:MBI) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.30 and traded as low as $7.02. MBIA shares last traded at $7.10, with a volume of 157,147 shares.

Analysts Set New Price Targets

MBI has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBIA in a research note on Wednesday, October 8th. Wall Street Zen raised shares of MBIA from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, Keefe, Bruyette & Woods increased their price target on shares of MBIA from $8.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MBIA has an average rating of “Hold” and a consensus target price of $8.50.

MBIA Price Performance

The stock’s fifty day simple moving average is $7.30 and its two-hundred day simple moving average is $6.50. The company has a market capitalization of $358.48 million, a price-to-earnings ratio of -1.95 and a beta of 1.89.

MBIA (NYSE:MBI) last announced its quarterly earnings data on Tuesday, November 4th. The insurance provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). The company had revenue of $13.00 million for the quarter, compared to analyst estimates of $21.00 million. On average, sell-side analysts predict that MBIA, Inc. will post -3.5 EPS for the current year.

Hedge Funds Weigh In On MBIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC acquired a new position in MBIA during the 3rd quarter valued at about $29,000. Quarry LP acquired a new position in shares of MBIA in the third quarter worth about $37,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of MBIA in the third quarter worth approximately $77,000. Inscription Capital LLC acquired a new stake in shares of MBIA during the third quarter valued at approximately $78,000. Finally, Steinberganna Wealth Management purchased a new stake in shares of MBIA in the 3rd quarter valued at approximately $125,000. 60.95% of the stock is owned by institutional investors.

MBIA Company Profile

MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.

Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.