BidaskClub downgraded shares of MBIA, Inc. (NYSE:MBI) from a hold rating to a sell rating in a report issued on Saturday morning.

Separately, BTIG Research restated a buy rating and set a $14.00 target price on shares of MBIA in a research note on Friday, July 14th.

MBIA (NYSE:MBI) traded down 1.69% during mid-day trading on Friday, hitting $9.87. 776,856 shares of the stock were exchanged. MBIA has a 12-month low of $7.14 and a 12-month high of $11.65. The firm’s market cap is $1.28 billion. The company has a 50 day moving average of $9.61 and a 200 day moving average of $9.30.

MBIA (NYSE:MBI) last released its earnings results on Wednesday, May 10th. The insurance provider reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.03. The firm had revenue of $77 million for the quarter, compared to analysts’ expectations of $95.20 million. During the same quarter in the previous year, the company posted ($0.58) earnings per share. On average, equities analysts anticipate that MBIA will post ($1.18) earnings per share for the current fiscal year.

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MBIA declared that its Board of Directors has initiated a share buyback plan on Tuesday, June 27th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the insurance provider to repurchase up to 21.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other MBIA news, Director Charles R. Rinehart purchased 40,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The stock was purchased at an average cost of $9.25 per share, with a total value of $370,000.00. Following the completion of the acquisition, the director now directly owns 212,592 shares of the company’s stock, valued at approximately $1,966,476. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven J. Gilbert purchased 50,000 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was acquired at an average cost of $8.96 per share, with a total value of $448,000.00. Following the completion of the acquisition, the director now directly owns 132,073 shares of the company’s stock, valued at $1,183,374.08. The disclosure for this purchase can be found here. Insiders purchased 177,033 shares of company stock valued at $1,589,112 over the last ninety days. 4.11% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its position in shares of MBIA by 0.8% in the first quarter. Envestnet Asset Management Inc. now owns 12,484 shares of the insurance provider’s stock worth $106,000 after buying an additional 99 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of MBIA by 1.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 93,562 shares of the insurance provider’s stock worth $792,000 after buying an additional 1,665 shares during the period. First Midwest Bank Trust Division increased its position in shares of MBIA by 2.1% in the first quarter. First Midwest Bank Trust Division now owns 93,117 shares of the insurance provider’s stock worth $789,000 after buying an additional 1,947 shares during the period. Teachers Advisors LLC increased its position in shares of MBIA by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 213,402 shares of the insurance provider’s stock worth $2,283,000 after buying an additional 2,277 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of MBIA by 11.3% in the first quarter. HighTower Advisors LLC now owns 30,959 shares of the insurance provider’s stock worth $261,000 after buying an additional 3,132 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

MBIA Company Profile

MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.

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