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

MBIA, Inc. (NYSE:MBI)’s share price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $4.54 and traded as high as $4.66. MBIA shares last traded at $4.5830, with a volume of 290,668 shares traded.

Analyst Upgrades and Downgrades

MBI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of MBIA from $7.50 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings cut MBIA from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.00.

MBIA Trading Up 2.8%

The firm has a 50-day moving average of $4.54 and a two-hundred day moving average of $5.66. The firm has a market capitalization of $233.41 million, a P/E ratio of -1.59 and a beta of 1.76.

MBIA (NYSE:MBI) last released its earnings results on Thursday, August 6th. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $27.00 million during the quarter, compared to analysts’ expectations of $5.75 million. On average, sell-side analysts anticipate that MBIA, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On MBIA

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in MBIA during the 2nd quarter worth approximately $23,949,000. Wolf Hill Capital Management LP acquired a new stake in MBIA in the second quarter valued at approximately $13,809,451. Valueworks LLC bought a new stake in shares of MBIA during the second quarter worth $12,826,000. Renaissance Technologies LLC grew its stake in shares of MBIA by 189.1% during the first quarter. Renaissance Technologies LLC now owns 409,892 shares of the insurance provider’s stock worth $2,422,000 after buying an additional 268,100 shares during the last quarter. Finally, Chou Associates Management Inc. bought a new stake in shares of MBIA during the second quarter worth $2,093,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

MBIA Company Profile

MBIA Inc (NYSE: MBI) is a financial services holding company that provides financial guarantee insurance through its operating subsidiaries. Its guarantees are designed to support the payment of scheduled principal and interest on insured obligations, primarily by enhancing the credit quality of bonds and other debt securities.

MBIA’s principal businesses have historically included public finance insurance and structured finance activities. National Public Finance Guarantee Corporation provides insurance for U.S.