MBIA (NYSE:MBI) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

MBIA, Inc. (NYSE:MBI)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.95 and traded as low as $5.68. MBIA shares last traded at $5.7250, with a volume of 201,750 shares changing hands.

Analysts Set New Price Targets

Several brokerages have issued reports on MBI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBIA in a report on Tuesday, April 21st. Wall Street Zen raised MBIA from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods cut their price target on MBIA from $8.50 to $7.50 and set an “outperform” rating for the company in a report on Thursday, March 19th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MBIA has an average rating of “Hold” and an average price target of $7.50.

MBIA Stock Up 0.6%

The company has a market cap of $291.60 million, a price-to-earnings ratio of -1.85 and a beta of 1.64. The stock has a fifty day moving average price of $5.95 and a two-hundred day moving average price of $6.50.

MBIA (NYSE:MBI) last posted its earnings results on Thursday, May 7th. The insurance provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The firm had revenue of $24.00 million during the quarter, compared to the consensus estimate of $5.80 million. Analysts predict that MBIA, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MBIA

A number of hedge funds and other institutional investors have recently modified their holdings of MBI. AlphaQuest LLC acquired a new stake in shares of MBIA during the third quarter worth $29,000. Quarry LP acquired a new stake in shares of MBIA during the third quarter worth $37,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of MBIA during the third quarter worth $77,000. AQR Capital Management LLC acquired a new stake in shares of MBIA during the fourth quarter worth $83,000. Finally, State of Wyoming bought a new position in shares of MBIA in the second quarter worth $101,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

About MBIA

MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.

Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.