Headlines about MBIA (NYSE:MBI) have been trending positive on Wednesday, according to Accern. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. MBIA earned a news impact score of 0.26 on Accern’s scale. Accern also gave news articles about the insurance provider an impact score of 74 out of 100, meaning that recent news coverage is likely to have an effect on the company’s share price in the next few days.
Here are some of the news articles that may have effected Accern’s rankings:
- National Public Finance Guarantee Corporation Files Adversary Complaint to Compel PREPA to Deposit Pledged Special Revenues with Bond Trustee (finance.yahoo.com)
- MBIA Inc. Reports Second Quarter 2017 Financial Results (finance.yahoo.com)
- Puerto Rico debt helps sink MBIA’s Q2 loss to $1.2 bln (finance.yahoo.com)
- MBIA reports 2Q loss (finance.yahoo.com)
- Assurant (AIZ) Appoints Harriet Edelman and Debra Perry to Its Board of Directors (streetinsider.com)
Several brokerages have recently commented on MBI. BTIG Research reaffirmed a “buy” rating and set a $14.00 price objective on shares of MBIA in a research report on Friday, July 14th. BidaskClub downgraded shares of MBIA from a “hold” rating to a “sell” rating in a research report on Saturday.
Shares of MBIA (NYSE:MBI) opened at 9.67 on Wednesday. The stock’s 50 day moving average is $9.72 and its 200 day moving average is $9.31. MBIA has a 12 month low of $7.15 and a 12 month high of $11.65. The firm’s market cap is $1.25 billion.
MBIA (NYSE:MBI) last issued its quarterly earnings results on Wednesday, May 10th. The insurance provider reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The firm had revenue of $77 million during the quarter, compared to analysts’ expectations of $95.20 million. During the same period in the previous year, the company earned ($0.58) earnings per share. Equities research analysts expect that MBIA will post ($1.18) EPS for the current year.
MBIA announced that its Board of Directors has authorized a stock buyback program on Tuesday, June 27th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 21.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Charles R. Rinehart bought 40,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were purchased at an average cost of $9.25 per share, with a total value of $370,000.00. Following the completion of the purchase, the director now owns 212,592 shares in the company, valued at approximately $1,966,476. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven J. Gilbert purchased 50,000 shares of the stock in a transaction dated Monday, June 19th. The shares were acquired at an average cost of $8.96 per share, for a total transaction of $448,000.00. Following the completion of the acquisition, the director now owns 132,073 shares of the company’s stock, valued at $1,183,374.08. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 177,033 shares of company stock worth $1,589,112. 4.11% of the stock is owned by insiders.
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MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.
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