MBIA (NYSE:MBI) Stock Price Breaks Below Fifty Day Moving Average – Should You Sell?

MBIA, Inc. (NYSE:MBI) shares crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $4.77 and traded as low as $4.28. MBIA shares last traded at $4.4250, with a volume of 672,687 shares.

Wall Street Analyst Weigh In

MBI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of MBIA from $7.50 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBIA in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.00.

MBIA Stock Performance

The business’s 50-day moving average is $4.76 and its two-hundred day moving average is $5.60. The firm has a market capitalization of $233.41 million, a price-to-earnings ratio of -1.59 and a beta of 1.76.

MBIA (NYSE:MBI) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The company had revenue of $27.00 million during the quarter, compared to analyst estimates of $5.75 million. Analysts forecast that MBIA, Inc. will post -0.38 EPS for the current year.

Institutional Investors Weigh In On MBIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of MBIA in the second quarter valued at about $23,949,000. Wolf Hill Capital Management LP acquired a new position in MBIA in the 2nd quarter valued at about $13,809,451. Valueworks LLC bought a new stake in MBIA in the 2nd quarter valued at $12,826,000. Renaissance Technologies LLC increased its position in MBIA by 189.1% during the first quarter. Renaissance Technologies LLC now owns 409,892 shares of the insurance provider’s stock worth $2,422,000 after acquiring an additional 268,100 shares during the period. Finally, Chou Associates Management Inc. bought a new stake in shares of MBIA in the second quarter valued at approximately $2,093,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

About MBIA

MBIA Inc is a financial services holding company that provides financial guarantee insurance through its subsidiaries. Financial guarantee insurance is designed to enhance the credit quality of bonds and other debt obligations by assuring timely payment of principal and interest if the original issuer fails to pay.

The company’s insurance operations have historically focused on municipal finance, including bonds issued by states, cities, counties, public authorities and other governmental entities.