MBIA (NYSE:MBI) Shares Cross Above Fifty Day Moving Average – Here’s Why

MBIA Inc. (NYSE:MBI)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $6.36 and traded as high as $6.45. MBIA shares last traded at $6.06, with a volume of 376,386 shares trading hands.

Analyst Ratings Changes

MBI has been the subject of a number of analyst reports. StockNews.com cut MBIA from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Keefe, Bruyette & Woods raised shares of MBIA from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $6.50 to $9.00 in a research note on Monday, November 18th.

MBIA Stock Performance

The company has a market capitalization of $303.99 million, a price-to-earnings ratio of -0.53 and a beta of 1.62. The company has a fifty day simple moving average of $6.39 and a two-hundred day simple moving average of $4.83.

Insider Buying and Selling

In other MBIA news, Director Richard C. Vaughan sold 9,000 shares of MBIA stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $6.59, for a total transaction of $59,310.00. Following the transaction, the director now directly owns 65,635 shares of the company’s stock, valued at $432,534.65. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Theodore Shasta sold 9,570 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $6.74, for a total transaction of $64,501.80. Following the completion of the sale, the director now directly owns 61,794 shares of the company’s stock, valued at $416,491.56. The trade was a 13.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,831 shares of company stock worth $192,842. 13.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On MBIA

A number of large investors have recently modified their holdings of MBI. Barclays PLC boosted its position in MBIA by 279.1% in the 3rd quarter. Barclays PLC now owns 58,406 shares of the insurance provider’s stock valued at $209,000 after buying an additional 42,998 shares during the last quarter. TCW Group Inc. increased its stake in shares of MBIA by 76.3% in the third quarter. TCW Group Inc. now owns 460,800 shares of the insurance provider’s stock worth $1,645,000 after buying an additional 199,500 shares during the last quarter. K2 Principal Fund L.P. acquired a new stake in MBIA in the third quarter valued at $173,000. Jane Street Group LLC boosted its stake in MBIA by 70.5% during the 3rd quarter. Jane Street Group LLC now owns 78,814 shares of the insurance provider’s stock valued at $281,000 after acquiring an additional 32,591 shares during the last quarter. Finally, Whitebox Advisors LLC grew its holdings in MBIA by 6.3% during the 3rd quarter. Whitebox Advisors LLC now owns 844,431 shares of the insurance provider’s stock worth $3,015,000 after acquiring an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.