MBIA (NYSE:MBI) Shares Pass Below 200 Day Moving Average – Here’s What Happened

MBIA, Inc. (NYSE:MBI)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.85 and traded as low as $5.70. MBIA shares last traded at $5.9250, with a volume of 210,180 shares traded.

Analyst Upgrades and Downgrades

Several analysts have commented on MBI shares. Weiss Ratings restated a “sell (d-)” rating on shares of MBIA in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of MBIA from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of MBIA from $8.50 to $7.50 and set an “outperform” rating on the stock in a report on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.50.

MBIA Price Performance

The company has a market cap of $301.76 million, a PE ratio of -1.66 and a beta of 1.81. The business’s fifty day simple moving average is $6.18 and its two-hundred day simple moving average is $6.85.

MBIA (NYSE:MBI) last announced its quarterly earnings data 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 company had revenue of $28.00 million for the quarter, compared to analysts’ expectations of $26.50 million. As a group, analysts predict that MBIA, Inc. will post -3.5 EPS for the current year.

Institutional Trading of MBIA

A number of large investors have recently modified their holdings of the stock. AlphaQuest LLC acquired a new stake in shares of MBIA in the third quarter valued at $29,000. Quarry LP purchased a new position in MBIA in the third quarter valued at $37,000. Dynamic Technology Lab Private Ltd acquired a new position in MBIA during the 3rd quarter worth $77,000. Inscription Capital LLC acquired a new position in MBIA during the 3rd quarter worth $78,000. Finally, AQR Capital Management LLC purchased a new stake in MBIA during the 4th quarter worth about $83,000. Hedge funds and other institutional investors 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.