MBIA (NYSE:MBI) Stock Crosses Above 50 Day Moving Average – Here’s Why

MBIA Inc. (NYSE:MBI) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $3.66 and traded as high as $3.94. MBIA shares last traded at $3.84, with a volume of 184,475 shares traded.

Analyst Ratings Changes

Separately, Roth Mkm dropped their price target on shares of MBIA from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th.

MBIA Trading Up 1.6 %

The business has a 50-day moving average of $3.66 and a 200 day moving average of $4.75. The firm has a market capitalization of $195.95 million, a PE ratio of -0.38 and a beta of 1.43.

MBIA (NYSE:MBI) last posted its earnings results on Tuesday, August 6th. The insurance provider reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($2.75). The firm had revenue of ($37.00) million for the quarter, compared to analysts’ expectations of $29.00 million. During the same period last year, the firm posted ($0.45) EPS. On average, sell-side analysts expect that MBIA Inc. will post -3.75 EPS for the current fiscal year.

Institutional Investors Weigh In On MBIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new position in shares of MBIA in the 1st quarter worth approximately $1,105,000. TCW Group Inc. bought a new stake in MBIA during the second quarter worth $1,435,000. Vanguard Group Inc. boosted its position in MBIA by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,387,073 shares of the insurance provider’s stock worth $16,137,000 after purchasing an additional 39,767 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in MBIA by 19.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,714 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 2,587 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in MBIA in the 1st quarter valued at $284,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.