MBIA (NYSE:MBI) Upgraded by Wall Street Zen to Hold Rating

by · The Cerbat Gem

Wall Street Zen upgraded shares of MBIA (NYSE:MBI – Free Report) from a sell rating to a hold rating in a research note released on Sunday morning.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBIA in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.00.

Get Our Latest Stock Analysis on MBI

MBIA Trading Up 0.7%

Shares of NYSE:MBI traded up $0.05 during trading on Friday, reaching $7.54. The company had a trading volume of 470,743 shares, compared to its average volume of 349,983. The company has a fifty day moving average of $7.25 and a two-hundred day moving average of $5.82. The stock has a market capitalization of $380.88 million, a P/E ratio of -1.62 and a beta of 1.82. MBIA has a 12 month low of $3.86 and a 12 month high of $8.26.

MBIA (NYSE:MBI – Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The insurance provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.12). The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $21.00 million. As a group, equities research analysts predict that MBIA will post -3.5 earnings per share for the current year.

Institutional Investors Weigh In On MBIA

A number of large investors have recently added to or reduced their stakes in MBI. JPMorgan Chase & Co. increased its position in shares of MBIA by 16.8% in the third quarter. JPMorgan Chase & Co. now owns 126,847 shares of the insurance provider’s stock valued at $945,000 after acquiring an additional 18,233 shares during the period. AlphaQuest LLC bought a new stake in shares of MBIA in the third quarter worth about $29,000. Inscription Capital LLC purchased a new position in MBIA during the 3rd quarter valued at about $78,000. Steinberganna Wealth Management bought a new position in MBIA during the 3rd quarter valued at approximately $125,000. Finally, State of Wyoming bought a new position in MBIA during the 2nd quarter valued at approximately $101,000. Institutional investors own 60.95% of the company’s stock.

About MBIA

(Get Free Report)

MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (U.S.) Public Finance Insurance, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of the U.S.

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