MBIA (NYSE:MBI) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of MBIA, Inc. (NYSE:MBI) 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 trading hands.

Wall Street Analyst Weigh In

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

MBIA Stock Up 7.6%

The stock has a market cap of $313.42 million, a price-to-earnings ratio of -1.99 and a beta of 1.64. The company has a 50 day simple moving average of $5.95 and a 200 day simple moving average of $6.49.

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

Institutional Investors Weigh In On MBIA

Several hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. boosted its position in MBIA by 2.5% during the 3rd quarter. Alliancebernstein L.P. now owns 78,540 shares of the insurance provider’s stock worth $585,000 after buying an additional 1,900 shares during the period. Deutsche Bank AG boosted its position in MBIA by 4.6% during the 4th quarter. Deutsche Bank AG now owns 45,409 shares of the insurance provider’s stock worth $325,000 after buying an additional 1,988 shares during the period. Price T Rowe Associates Inc. MD boosted its position in MBIA by 2.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 106,605 shares of the insurance provider’s stock worth $764,000 after buying an additional 2,900 shares during the period. Millennium Management LLC boosted its position in MBIA by 8.7% during the 4th quarter. Millennium Management LLC now owns 43,823 shares of the insurance provider’s stock worth $314,000 after buying an additional 3,509 shares during the period. Finally, Rhumbline Advisers boosted its position in MBIA by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 69,789 shares of the insurance provider’s stock worth $303,000 after buying an additional 3,626 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

MBIA Company Profile

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.