MBIA Inc. (NYSE:MBI) Short Interest Update

MBIA Inc. (NYSE:MBI) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,710,000 shares, a decrease of 19.0% from the November 15th total of 2,110,000 shares. Currently, 3.9% of the company’s shares are short sold. Based on an average trading volume of 477,500 shares, the days-to-cover ratio is presently 3.6 days.

MBIA Trading Down 2.1 %

MBI stock traded down $0.13 during mid-day trading on Friday, hitting $6.10. 147,338 shares of the company were exchanged, compared to its average volume of 488,985. The firm has a fifty day simple moving average of $5.11 and a 200 day simple moving average of $4.69. The company has a market capitalization of $311.28 million, a PE ratio of -0.54 and a beta of 1.61. MBIA has a twelve month low of $3.22 and a twelve month high of $14.37.

Insider Activity

In related news, Director Richard C. Vaughan sold 9,000 shares of MBIA stock in a transaction 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 owns 65,635 shares in the company, valued at approximately $432,534.65. The trade was a 12.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.58% of the company’s stock.

Hedge Funds Weigh In On MBIA

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in shares of MBIA by 26.6% during the third quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 2,090 shares during the last quarter. Seelaus Asset Management LLC bought a new position in MBIA in the 3rd quarter worth about $45,000. Quantbot Technologies LP increased its stake in shares of MBIA by 476.5% in the third quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 11,784 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of MBIA during the second quarter valued at approximately $83,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of MBIA by 34.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 21,065 shares of the insurance provider’s stock worth $116,000 after buying an additional 5,351 shares during the period. Institutional investors own 60.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and raised their target price for the company from $6.50 to $9.00 in a research note on Monday, November 18th.

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.