MBIA (NYSE:MBI) Shares Pass Below 50-Day Moving Average – Here’s Why

MBIA, Inc. (NYSE:MBI) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $7.32 and traded as low as $6.72. MBIA shares last traded at $6.9090, with a volume of 609,608 shares.

Wall Street Analysts Forecast Growth

MBI has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on MBIA from $8.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Wall Street Zen raised MBIA from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MBIA in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.50.

MBIA Price Performance

The stock has a market cap of $348.84 million, a price-to-earnings ratio of -1.90 and a beta of 1.91. The stock has a fifty day moving average of $7.32 and a 200 day moving average of $6.63.

MBIA (NYSE:MBI) last issued its quarterly earnings results on Tuesday, November 4th. The insurance provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.12). The company had revenue of $13.00 million for the quarter, compared to the consensus estimate of $21.00 million. As a group, equities analysts expect that MBIA, Inc. will post -3.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kahn Brothers Group Inc. purchased a new position in MBIA in the third quarter valued at $7,672,000. UBS Group AG boosted its stake in shares of MBIA by 72.9% during the 3rd quarter. UBS Group AG now owns 1,026,406 shares of the insurance provider’s stock worth $7,647,000 after acquiring an additional 432,906 shares in the last quarter. Marshall Wace LLP grew its position in shares of MBIA by 184.1% during the 2nd quarter. Marshall Wace LLP now owns 416,964 shares of the insurance provider’s stock valued at $1,810,000 after acquiring an additional 270,192 shares during the period. Bluefin Capital Management LLC acquired a new stake in shares of MBIA during the 1st quarter valued at about $508,000. Finally, Freestone Capital Holdings LLC increased its stake in shares of MBIA by 34.5% in the 2nd quarter. Freestone Capital Holdings LLC now owns 387,514 shares of the insurance provider’s stock valued at $1,682,000 after purchasing an additional 99,385 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

About MBIA

MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.

Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.