MBIA Inc. (NYSE:MBI) Director Theodore Shasta Sells 9,570 Shares of Stock

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 9,570 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $6.74, for a total transaction of $64,501.80. Following the completion of the transaction, the director now owns 61,794 shares of the company’s stock, valued at approximately $416,491.56. This trade represents a 13.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Theodore Shasta also recently made the following trade(s):

• On Monday, December 30th, Theodore Shasta sold 11,261 shares of MBIA stock. The shares were sold at an average price of $6.13, for a total value of $69,029.93.

MBIA Stock Up 3.1 %

MBI opened at $7.04 on Tuesday. The company has a market cap of $359.25 million, a PE ratio of -0.62 and a beta of 1.62. MBIA Inc. has a twelve month low of $3.22 and a twelve month high of $7.16. The company has a 50-day moving average price of $5.93 and a 200 day moving average price of $4.76.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MBI. StockNews.com upgraded MBIA from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. 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.

Institutional Investors Weigh In On MBIA

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of MBIA by 26.6% in the third quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 2,090 shares during the last quarter. Seelaus Asset Management LLC acquired a new stake in MBIA during the 3rd quarter worth $45,000. Quantbot Technologies LP grew its holdings in shares of MBIA by 476.5% during the third quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock worth $51,000 after buying an additional 11,784 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of MBIA in the second quarter valued at about $83,000. Finally, K2 Principal Fund L.P. acquired a new stake in shares of MBIA in the third quarter valued at about $173,000. 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.