MBIA (NYSE:MBI) Stock Crosses Above 50-Day Moving Average – What’s Next?

Shares of MBIA, Inc. (NYSE:MBI) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.99 and traded as high as $6.27. MBIA shares last traded at $6.1850, with a volume of 175,979 shares changing hands.

Analyst Upgrades and Downgrades

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

MBIA Stock Up 0.1%

The stock has a market capitalization of $315.00 million, a PE ratio of -2.00 and a beta of 1.64. The company’s fifty day moving average price is $5.99 and its 200-day moving average price is $6.44.

MBIA (NYSE:MBI) last announced its quarterly earnings data 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 company had revenue of $24.00 million for the quarter, compared to the consensus estimate of $5.80 million. Equities research analysts anticipate that MBIA, Inc. will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On MBIA

A number of hedge funds have recently added to or reduced their stakes in MBI. Kahn Brothers Group Inc. purchased a new position in MBIA in the 3rd quarter worth approximately $7,672,000. UBS Group AG raised its holdings in MBIA by 72.9% in the 3rd quarter. UBS Group AG now owns 1,026,406 shares of the insurance provider’s stock worth $7,647,000 after acquiring an additional 432,906 shares during the last quarter. Marshall Wace LLP raised its holdings in MBIA by 184.1% in the 2nd quarter. Marshall Wace LLP now owns 416,964 shares of the insurance provider’s stock worth $1,810,000 after acquiring an additional 270,192 shares during the last quarter. Renaissance Technologies LLC raised its holdings in MBIA by 189.1% in the 1st quarter. Renaissance Technologies LLC now owns 409,892 shares of the insurance provider’s stock worth $2,422,000 after acquiring an additional 268,100 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in MBIA by 453.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 249,048 shares of the insurance provider’s stock worth $1,783,000 after acquiring an additional 204,083 shares during the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.