MBIA (NYSE:MBI) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of MBIA (NYSE:MBI) from a hold rating to a sell rating in a research report report published on Saturday morning.

Several other brokerages also recently commented on MBI. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBIA in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price target on shares of MBIA from $8.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MBIA presently has an average rating of “Hold” and a consensus price target of $8.50.

MBIA Stock Down 1.9%

Shares of MBI stock opened at $6.59 on Friday. MBIA has a 12 month low of $3.86 and a 12 month high of $8.26. The company has a market cap of $332.86 million, a PE ratio of -1.84 and a beta of 1.87. The business’s 50 day moving average is $6.60 and its two-hundred day moving average is $7.10.

MBIA (NYSE:MBI) last issued its quarterly earnings data on Thursday, February 26th. The insurance provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). The firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $26.50 million. As a group, equities analysts expect that MBIA will post -3.5 EPS for the current fiscal year.

Hedge Funds Weigh In On MBIA

A number of institutional investors and hedge funds have recently bought and sold shares of MBI. Alliancebernstein L.P. raised its stake in MBIA by 2.5% during the 3rd quarter. Alliancebernstein L.P. now owns 78,540 shares of the insurance provider’s stock valued at $585,000 after purchasing an additional 1,900 shares during the last quarter. Deutsche Bank AG grew its position in MBIA by 4.6% in the 4th quarter. Deutsche Bank AG now owns 45,409 shares of the insurance provider’s stock worth $325,000 after purchasing an additional 1,988 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of MBIA by 2.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 106,605 shares of the insurance provider’s stock worth $764,000 after purchasing an additional 2,900 shares during the period. Millennium Management LLC raised its position in shares of MBIA by 8.7% during the fourth quarter. Millennium Management LLC now owns 43,823 shares of the insurance provider’s stock valued at $314,000 after buying an additional 3,509 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of MBIA by 5.5% during the second quarter. Rhumbline Advisers now owns 69,789 shares of the insurance provider’s stock valued at $303,000 after buying an additional 3,626 shares during the last quarter. Institutional investors 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.