Theodore Shasta Sells 11,261 Shares of MBIA Inc. (NYSE:MBI) Stock

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 11,261 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $6.13, for a total value of $69,029.93. Following the completion of the transaction, the director now owns 71,364 shares of the company’s stock, valued at approximately $437,461.32. The trade was a 13.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

MBIA Stock Performance

Shares of MBI stock traded up $0.44 during mid-day trading on Thursday, hitting $6.90. 627,579 shares of the stock were exchanged, compared to its average volume of 482,425. MBIA Inc. has a 12-month low of $3.22 and a 12-month high of $7.16. The stock’s fifty day simple moving average is $5.74 and its two-hundred day simple moving average is $4.74. The stock has a market capitalization of $352.11 million, a price-to-earnings ratio of -0.61 and a beta of 1.61.

Hedge Funds Weigh In On MBIA

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in MBIA by 10.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 200,447 shares of the insurance provider’s stock valued at $1,100,000 after buying an additional 19,753 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of MBIA by 9.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 430,963 shares of the insurance provider’s stock worth $2,366,000 after acquiring an additional 36,691 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of MBIA by 427.9% during the 2nd quarter. Renaissance Technologies LLC now owns 119,174 shares of the insurance provider’s stock worth $654,000 after acquiring an additional 96,600 shares in the last quarter. Whitebox Advisors LLC grew its holdings in MBIA by 86.8% in the second quarter. Whitebox Advisors LLC now owns 794,431 shares of the insurance provider’s stock valued at $4,361,000 after purchasing an additional 369,255 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in MBIA by 140.8% during the second quarter. Squarepoint Ops LLC now owns 92,186 shares of the insurance provider’s stock worth $506,000 after acquiring an additional 53,910 shares during the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MBI has been the topic of several research analyst reports. StockNews.com raised MBIA from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods raised MBIA from a “market perform” rating to an “outperform” rating and increased their target price for the company from $6.50 to $9.00 in a report on Monday, November 18th.

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.