MBIA (NYSE:MBI) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of MBIA (NYSE:MBI) from a hold rating to a sell rating in a research note published on Wednesday.

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

MBIA Trading Down 2.1 %

Shares of NYSE MBI opened at $6.00 on Wednesday. The stock has a market capitalization of $306.18 million, a PE ratio of -0.53 and a beta of 1.62. The stock’s fifty day simple moving average is $6.08 and its two-hundred day simple moving average is $4.79. MBIA has a 12-month low of $3.22 and a 12-month high of $7.16.

Insider Activity

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

Hedge Funds Weigh In On MBIA

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in shares of MBIA by 26.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 2,090 shares during the period. Seelaus Asset Management LLC acquired a new stake in shares of MBIA during the 3rd quarter valued at about $45,000. Quantbot Technologies LP grew its position in shares of MBIA by 476.5% during the 3rd quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 11,784 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of MBIA during the 2nd quarter valued at about $83,000. Finally, K2 Principal Fund L.P. acquired a new stake in shares of MBIA during the 3rd quarter valued at about $173,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.