Roth Mkm Trims MBIA (NYSE:MBI) Target Price to $4.50

MBIA (NYSE:MBI) had its target price cut by Roth Mkm from $7.00 to $4.50 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Separately, Keefe, Bruyette & Woods cut their price target on shares of MBIA from $7.50 to $6.50 and set a market perform rating for the company in a report on Friday, May 31st.

MBIA Trading Down 3.5 %

MBIA stock traded down $0.14 during midday trading on Wednesday, reaching $3.82. 523,182 shares of the stock traded hands, compared to its average volume of 516,189. MBIA has a fifty-two week low of $3.65 and a fifty-two week high of $14.37. The firm has a market cap of $195.88 million, a price-to-earnings ratio of -0.38 and a beta of 1.45. The firm has a fifty day moving average price of $5.03 and a two-hundred day moving average price of $5.90.

MBIA (NYSE:MBI) last released its earnings results on Tuesday, August 6th. The insurance provider reported ($2.90) EPS for the quarter, missing the consensus estimate of ($0.15) by ($2.75). The business had revenue of ($37.00) million for the quarter, compared to analysts’ expectations of $29.00 million. During the same quarter last year, the firm posted ($0.45) earnings per share. Analysts anticipate that MBIA will post -0.75 earnings per share for the current year.

Insider Buying and Selling at MBIA

In other news, Director Theodore Shasta sold 21,405 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $5.52, for a total transaction of $118,155.60. Following the transaction, the director now owns 82,625 shares in the company, valued at approximately $456,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.58% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Kahn Brothers Group Inc. boosted its stake in MBIA by 7.2% in the 1st quarter. Kahn Brothers Group Inc. now owns 5,176,613 shares of the insurance provider’s stock valued at $34,993,000 after buying an additional 347,007 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of MBIA by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,387,073 shares of the insurance provider’s stock worth $16,137,000 after purchasing an additional 39,767 shares during the last quarter. Envestnet Asset Management Inc. increased its position 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 purchasing an additional 36,691 shares in the last quarter. Whitebox Advisors LLC lifted its holdings in MBIA by 54.5% during the 1st quarter. Whitebox Advisors LLC now owns 425,176 shares of the insurance provider’s stock valued at $2,874,000 after purchasing an additional 150,000 shares during the last quarter. Finally, TCW Group Inc. acquired a new position in MBIA in the second quarter valued at about $1,435,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

MBIA Company Profile

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.