Theodore Shasta Sells 11,261 Shares of MBIA Inc. (NYSE:MBI) Stock

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 11,261 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $6.13, for a total transaction of $69,029.93. Following the transaction, the director now owns 71,364 shares in the company, valued at approximately $437,461.32. This trade represents a 13.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

MBIA Trading Down 1.0 %

Shares of MBI stock opened at $6.83 on Friday. MBIA Inc. has a 12 month low of $3.22 and a 12 month high of $7.16. The stock has a market cap of $348.53 million, a P/E ratio of -0.60 and a beta of 1.61. The company has a 50 day simple moving average of $5.87 and a two-hundred day simple moving average of $4.76.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MBI. StockNews.com upgraded shares of MBIA from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods raised shares of MBIA from a “market perform” rating to an “outperform” rating and upped their target price for the company from $6.50 to $9.00 in a report on Monday, November 18th.

Institutional Trading of MBIA

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of MBIA by 3.6% in the third quarter. State Street Corp now owns 1,015,523 shares of the insurance provider’s stock worth $3,625,000 after purchasing an additional 35,104 shares in the last quarter. Whitebox Advisors LLC increased its stake in shares of MBIA by 6.3% in the third quarter. Whitebox Advisors LLC now owns 844,431 shares of the insurance provider’s stock worth $3,015,000 after purchasing an additional 50,000 shares in the last quarter. TCW Group Inc. increased its stake in shares of MBIA by 76.3% in the third quarter. TCW Group Inc. now owns 460,800 shares of the insurance provider’s stock worth $1,645,000 after purchasing an additional 199,500 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of MBIA by 9.3% in the second quarter. Envestnet Asset Management Inc. now owns 430,963 shares of the insurance provider’s stock worth $2,366,000 after purchasing an additional 36,691 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of MBIA by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 384,482 shares of the insurance provider’s stock worth $1,373,000 after purchasing an additional 14,255 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.