MBIA Inc. (MBI) Shares Up 5.2%
MBIA Inc. (NYSE:MBI)’s share price was up 5.2% during mid-day trading on Monday . The company traded as high as $8.13 and last traded at $8.10, with a volume of 892,622 shares trading hands. The stock had previously closed at $7.70.
MBI has been the subject of a number of research analyst reports. MKM Partners reissued a “buy” rating on shares of MBIA in a report on Tuesday, May 10th. BTIG Research restated a “buy” rating and set a $13.00 price target on shares of MBIA in a research report on Wednesday, May 11th. S&P Equity Research restated a “positive” rating on shares of MBIA in a research report on Wednesday, June 15th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of MBIA in a research report on Monday, April 25th. They set a “market perform” rating and a $8.50 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$11.50.
The firm’s 50-day moving average price is $7.08 and its 200 day moving average price is $7.37. The firm has a market capitalization of $1.13 billion and a PE ratio of 44.38.
MBIA (NYSE:MBI) last issued its quarterly earnings data on Monday, May 9th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.01. During the same quarter last year, the firm posted $0.37 earnings per share. The company had revenue of $32 million for the quarter, compared to analysts’ expectations of $136.60 million. The company’s revenue was down 85.4% compared to the same quarter last year. On average, equities analysts expect that MBIA Inc. will post $0.45 EPS for the current fiscal year.
A number of hedge funds and institutional investors have bought and sold shares of MBI. Bank of Montreal Can raised its stake in MBIA by 75.2% in the fourth quarter. Bank of Montreal Can now owns 1,402,335 shares of the company’s stock worth $9,087,000 after buying an additional 602,073 shares in the last quarter. Russell Frank Co raised its stake in MBIA by 255.4% in the fourth quarter. Russell Frank Co now owns 423,368 shares of the company’s stock worth $2,739,000 after buying an additional 304,228 shares in the last quarter. Marshall Wace LLP raised its stake in MBIA by 416.3% in the fourth quarter. Marshall Wace LLP now owns 218,587 shares of the company’s stock worth $1,416,000 after buying an additional 176,251 shares in the last quarter. California Public Employees Retirement System raised its stake in MBIA by 12.6% in the fourth quarter. California Public Employees Retirement System now owns 836,200 shares of the company’s stock worth $5,419,000 after buying an additional 93,900 shares in the last quarter. Finally, Airain ltd raised its stake in MBIA by 3.8% in the fourth quarter. Airain ltd now owns 187,882 shares of the company’s stock worth $1,217,000 after buying an additional 6,863 shares in the last quarter.
MBIA Inc (MBIA) is a holding company. The Company, through its subsidiary, National Public Finance Guarantee Corporation (National), is engaged in providing financial guarantee insurance to the United States public finance markets. MBIA’s segments include United States (U.S.) public finance insurance, international and structured finance insurance, and corporate.
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