MBIA (NYSE:MBI) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

MBIA, Inc. (NYSE:MBI)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.95 and traded as low as $5.68. MBIA shares last traded at $5.7250, with a volume of 201,750 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MBI shares. Wall Street Zen raised MBIA from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBIA in a report on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods cut their price objective on MBIA from $8.50 to $7.50 and set an “outperform” rating for the company in a report on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.50.

MBIA Stock Performance

The company has a market cap of $291.60 million, a price-to-earnings ratio of -1.85 and a beta of 1.64. The firm has a fifty day moving average price of $5.95 and a 200 day moving average price of $6.50.

MBIA (NYSE:MBI) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm had revenue of $24.00 million during the quarter, compared to the consensus estimate of $5.80 million. On average, analysts expect that MBIA, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On MBIA

Several large investors have recently made changes to their positions in MBI. Quantinno Capital Management LP lifted its holdings in MBIA by 30.7% during the 1st quarter. Quantinno Capital Management LP now owns 94,764 shares of the insurance provider’s stock valued at $560,000 after purchasing an additional 22,246 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in MBIA by 189.1% during the 1st quarter. Renaissance Technologies LLC now owns 409,892 shares of the insurance provider’s stock valued at $2,422,000 after purchasing an additional 268,100 shares during the last quarter. Walleye Capital LLC lifted its holdings in MBIA by 14.0% during the 1st quarter. Walleye Capital LLC now owns 91,801 shares of the insurance provider’s stock valued at $543,000 after purchasing an additional 11,255 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in MBIA during the 1st quarter valued at $187,000. Finally, Invesco Ltd. lifted its holdings in MBIA by 20.2% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.