MBIA (NYSE:MBI) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

MBIA Inc. (NYSE:MBI)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.36 and traded as high as $6.45. MBIA shares last traded at $6.06, with a volume of 376,386 shares changing hands.

Wall Street Analyst Weigh In

MBI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and increased their target price for the company from $6.50 to $9.00 in a research report on Monday, November 18th. StockNews.com lowered shares of MBIA from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th.

MBIA Stock Down 4.9 %

The firm has a 50-day moving average price of $6.36 and a two-hundred day moving average price of $4.82. The firm has a market cap of $308.99 million, a PE ratio of -0.54 and a beta of 1.62.

Insiders Place Their Bets

In other news, Director Theodore Shasta sold 11,261 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $6.13, for a total value of $69,029.93. Following the completion of the sale, the director now directly owns 71,364 shares in the company, valued at $437,461.32. This represents a 13.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard C. Vaughan sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $6.59, for a total value of $59,310.00. Following the completion of the sale, the director now directly owns 65,635 shares of the company’s stock, valued at approximately $432,534.65. This represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,831 shares of company stock valued at $192,842 in the last 90 days. 13.79% of the stock is owned by insiders.

Institutional Trading of MBIA

Several large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its position in shares of MBIA by 9.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 430,963 shares of the insurance provider’s stock valued at $2,366,000 after acquiring an additional 36,691 shares during the last quarter. Renaissance Technologies LLC raised its stake in MBIA by 427.9% during the second quarter. Renaissance Technologies LLC now owns 119,174 shares of the insurance provider’s stock worth $654,000 after purchasing an additional 96,600 shares during the period. Whitebox Advisors LLC boosted its holdings in MBIA by 86.8% in the 2nd quarter. Whitebox Advisors LLC now owns 794,431 shares of the insurance provider’s stock valued at $4,361,000 after purchasing an additional 369,255 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of MBIA by 140.8% in the 2nd quarter. Squarepoint Ops LLC now owns 92,186 shares of the insurance provider’s stock valued at $506,000 after buying an additional 53,910 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in shares of MBIA during the 2nd quarter worth approximately $414,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.