MBIA (NYSE:MBI) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

MBIA, Inc. (NYSE:MBI)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.29 and traded as low as $5.74. MBIA shares last traded at $5.76, with a volume of 150,245 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on MBI. Wall Street Zen lowered shares of MBIA from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBIA in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of MBIA from $8.50 to $7.50 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.50.

MBIA Trading Down 0.5%

The firm has a market capitalization of $293.38 million, a price-to-earnings ratio of -1.61 and a beta of 1.87. The stock’s 50-day moving average is $6.29 and its 200-day moving average is $6.93.

MBIA (NYSE:MBI) last issued its earnings results on Thursday, February 26th. The insurance provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). The business had revenue of $28.00 million for the quarter, compared to analysts’ expectations of $26.50 million. On average, equities research analysts anticipate that MBIA, Inc. will post -3.5 EPS for the current fiscal year.

Hedge Funds Weigh In On MBIA

Institutional investors and hedge funds have recently bought and sold shares of the company. Kahn Brothers Group Inc. acquired a new stake in shares of MBIA during the third quarter valued at about $7,672,000. AlphaQuest LLC acquired a new position in shares of MBIA in the third quarter valued at approximately $29,000. Inscription Capital LLC bought a new position in MBIA in the 3rd quarter valued at approximately $78,000. Bluefin Capital Management LLC raised its holdings in MBIA by 11.2% in the 2nd quarter. Bluefin Capital Management LLC now owns 113,499 shares of the insurance provider’s stock valued at $493,000 after buying an additional 11,457 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in MBIA by 62.0% during the 2nd quarter. XTX Topco Ltd now owns 47,829 shares of the insurance provider’s stock worth $208,000 after buying an additional 18,301 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.