MBIA (NYSE:MBI) Shares Pass Above 50-Day Moving Average – Time to Sell?

MBIA, Inc. (NYSE:MBI) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.21 and traded as high as $6.41. MBIA shares last traded at $6.2950, with a volume of 358,670 shares changing hands.

Analysts Set New Price Targets

MBI has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBIA in a research report on Friday, July 17th. Wall Street Zen upgraded MBIA from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.50.

MBIA Price Performance

The stock has a 50 day moving average price of $6.21 and a 200-day moving average price of $6.24. The stock has a market capitalization of $293.05 million, a P/E ratio of -1.86 and a beta of 1.62.

MBIA (NYSE:MBI) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.80 million. Research analysts predict that MBIA, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MBIA

Several large investors have recently made changes to their positions in the company. Wolf Hill Capital Management LP grew its stake in shares of MBIA by 4.5% during the fourth quarter. Wolf Hill Capital Management LP now owns 2,560,708 shares of the insurance provider’s stock valued at $18,335,000 after buying an additional 110,544 shares during the last quarter. Geode Capital Management LLC boosted its stake in MBIA by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,043,095 shares of the insurance provider’s stock worth $4,528,000 after purchasing an additional 14,336 shares in the last quarter. UBS Group AG raised its stake 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 stake in shares of MBIA by 184.1% in the second quarter. Marshall Wace LLP now owns 416,964 shares of the insurance provider’s stock worth $1,810,000 after purchasing an additional 270,192 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of MBIA by 189.1% in the 1st quarter. Renaissance Technologies LLC now owns 409,892 shares of the insurance provider’s stock valued at $2,422,000 after acquiring an additional 268,100 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

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.