MBIA (NYSE:MBI) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

MBIA Inc. (NYSE:MBI)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $6.27 and traded as low as $5.34. MBIA shares last traded at $5.37, with a volume of 173,743 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com cut MBIA from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th.

MBIA Stock Down 3.7 %

The company has a market cap of $259.19 million, a P/E ratio of -0.45 and a beta of 1.64. The firm’s 50-day moving average price is $6.23 and its 200-day moving average price is $5.47.

MBIA (NYSE:MBI) last posted its earnings results on Thursday, February 27th. The insurance provider reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.17). The business had revenue of $29.00 million during the quarter, compared to analysts’ expectations of $28.70 million. As a group, analysts forecast that MBIA Inc. will post -3.5 earnings per share for the current year.

Insider Buying and Selling

In other MBIA news, Director Theodore Shasta sold 9,570 shares of MBIA stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $6.74, for a total transaction of $64,501.80. Following the completion of the sale, the director now directly owns 61,794 shares in the company, valued at $416,491.56. The trade was a 13.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MBIA

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in MBIA by 26.6% in the third quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 2,090 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of MBIA during the 4th quarter valued at about $50,000. Quantbot Technologies LP raised its holdings in shares of MBIA by 476.5% during the 3rd quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock valued at $51,000 after buying an additional 11,784 shares in the last quarter. Kahn Brothers Group Inc. bought a new stake in MBIA in the 4th quarter worth approximately $68,000. Finally, Nebula Research & Development LLC purchased a new stake in MBIA in the fourth quarter worth approximately $77,000. 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.