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

Shares of MBIA, Inc. (NYSE:MBI) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $7.37 and traded as low as $6.89. MBIA shares last traded at $7.1450, with a volume of 1,266,469 shares.

Analyst Upgrades and Downgrades

Several research firms have commented on MBI. Wall Street Zen raised MBIA from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Keefe, Bruyette & Woods upped their target price on MBIA from $8.00 to $8.50 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MBIA in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MBIA currently has an average rating of “Hold” and a consensus target price of $8.50.

MBIA Stock Performance

The firm has a 50 day moving average price of $7.37 and a two-hundred day moving average price of $6.78. The company has a market capitalization of $360.75 million, a P/E ratio of -1.96 and a beta of 1.91.

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

Institutional Investors Weigh In On MBIA

A number of hedge funds have recently made changes to their positions in MBI. Kahn Brothers Group Inc. acquired a new position in MBIA in the third quarter valued at about $7,672,000. UBS Group AG boosted its holdings in shares of MBIA by 72.9% in 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 MBIA by 184.1% during the 2nd quarter. Marshall Wace LLP now owns 416,964 shares of the insurance provider’s stock worth $1,810,000 after acquiring an additional 270,192 shares during the last quarter. Freestone Capital Holdings LLC increased its holdings in MBIA by 34.5% during 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. Finally, Jane Street Group LLC raised its position in MBIA by 463.0% in the 1st quarter. Jane Street Group LLC now owns 54,086 shares of the insurance provider’s stock valued at $269,000 after purchasing an additional 68,986 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.