MBIA (NYSE:MBI) Share Price Passes Below 200 Day Moving Average – What’s Next?

MBIA, Inc. (NYSE:MBI) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.67 and traded as low as $5.82. MBIA shares last traded at $5.8380, with a volume of 340,522 shares changing hands.

Wall Street Analysts Forecast Growth

MBI has been the subject of a number of analyst reports. Wall Street Zen cut MBIA from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBIA in a report on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods lowered their price target on shares of MBIA from $8.50 to $7.50 and set an “outperform” rating on the stock in a report on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.50.

MBIA Stock Down 4.5%

The firm has a market capitalization of $297.35 million, a P/E ratio of -1.63 and a beta of 1.81. The stock has a fifty day simple moving average of $6.05 and a 200 day simple moving average of $6.67.

MBIA (NYSE:MBI) last released its earnings results on Thursday, February 26th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.19). The company had revenue of $28.00 million during the quarter, compared to analysts’ expectations of $26.50 million. Research analysts anticipate that MBIA, Inc. will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MBIA

Institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC bought a new stake in shares of MBIA during the third quarter valued at approximately $29,000. Quarry LP bought a new position in shares of MBIA during the third quarter worth $37,000. Dynamic Technology Lab Private Ltd purchased a new position in MBIA during the third quarter valued at $77,000. Inscription Capital LLC purchased a new position in MBIA during the third quarter valued at $78,000. Finally, AQR Capital Management LLC bought a new stake in MBIA in the 4th quarter valued at $83,000. Institutional investors 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.