MBIA (NYSE:MBI) Stock Rating Lowered by Wall Street Zen

MBIA (NYSE:MBI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

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

MBIA Stock Performance

MBI opened at $6.59 on Friday. MBIA has a twelve month low of $3.86 and a twelve month high of $8.26. The firm has a market cap of $332.86 million, a price-to-earnings ratio of -1.84 and a beta of 1.87. The firm’s 50-day simple moving average is $6.60 and its 200-day simple moving average is $7.10.

MBIA (NYSE:MBI) last posted its quarterly earnings data on Thursday, February 26th. The insurance provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). The business had revenue of $28.00 million during the quarter, compared to the consensus estimate of $26.50 million. As a group, sell-side analysts anticipate that MBIA will post -3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On MBIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in MBIA by 20.2% in the fourth quarter. Invesco Ltd. now owns 62,437 shares of the insurance provider’s stock valued at $447,000 after purchasing an additional 10,492 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of MBIA during the 4th quarter worth approximately $113,000. XTX Topco Ltd acquired a new stake in shares of MBIA in the 4th quarter valued at approximately $208,000. Tudor Investment Corp ET AL boosted its holdings in shares of MBIA by 453.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 249,048 shares of the insurance provider’s stock valued at $1,783,000 after buying an additional 204,083 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of MBIA by 8.7% in 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 in the last quarter. 60.95% of the stock is owned by institutional investors.

MBIA Company Profile

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.