MBIA (NYSE:MBI) Lowered to Sell Rating by StockNews.com

MBIA (NYSE:MBI) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Separately, Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $6.50 to $9.00 in a report on Monday, November 18th.

MBIA Price Performance

MBIA stock traded down $0.76 during trading hours on Wednesday, hitting $6.13. The company had a trading volume of 891,548 shares, compared to its average volume of 599,990. The firm’s fifty day moving average is $6.04 and its 200-day moving average is $4.78. The firm has a market capitalization of $312.81 million, a P/E ratio of -0.54 and a beta of 1.62. MBIA has a fifty-two week low of $3.22 and a fifty-two week high of $7.16.

Insider Buying and Selling

In other news, Director Richard C. Vaughan sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $6.59, for a total transaction of $59,310.00. Following the completion of the sale, the director now owns 65,635 shares in the company, valued at approximately $432,534.65. This represents a 12.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Theodore Shasta sold 11,261 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $6.13, for a total value of $69,029.93. Following the transaction, the director now directly owns 71,364 shares in the company, valued at approximately $437,461.32. This represents a 13.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,831 shares of company stock worth $192,842. Insiders own 12.58% of the company’s stock.

Institutional Investors Weigh In On MBIA

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of MBIA by 279.1% in the third quarter. Barclays PLC now owns 58,406 shares of the insurance provider’s stock valued at $209,000 after purchasing an additional 42,998 shares during the period. TCW Group Inc. grew its stake in MBIA by 76.3% in the 3rd quarter. TCW Group Inc. now owns 460,800 shares of the insurance provider’s stock valued at $1,645,000 after buying an additional 199,500 shares during the last quarter. K2 Principal Fund L.P. bought a new position in MBIA in the 3rd quarter worth $173,000. Jane Street Group LLC lifted its position in MBIA by 70.5% during the 3rd quarter. Jane Street Group LLC now owns 78,814 shares of the insurance provider’s stock worth $281,000 after acquiring an additional 32,591 shares during the last quarter. Finally, Whitebox Advisors LLC boosted its holdings in MBIA by 6.3% during the third quarter. Whitebox Advisors LLC now owns 844,431 shares of the insurance provider’s stock valued at $3,015,000 after acquiring an additional 50,000 shares during the period. Institutional investors own 60.95% of the company’s stock.

MBIA Company Profile

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.