MBIA (NYSE:MBI) Upgraded at StockNews.com

StockNews.com upgraded shares of MBIA (NYSE:MBI) from a sell rating to a hold rating in a report released on Tuesday morning.

Separately, Keefe, Bruyette & Woods raised shares of MBIA from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $6.50 to $9.00 in a research report on Monday, November 18th.

MBIA Stock Performance

MBI stock opened at $6.34 on Tuesday. MBIA has a fifty-two week low of $3.22 and a fifty-two week high of $14.25. The firm has a fifty day moving average price of $5.17 and a 200 day moving average price of $4.68. The firm has a market cap of $323.53 million, a PE ratio of -0.56 and a beta of 1.61.

Insider Activity

In other news, Director Richard C. Vaughan sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $6.59, for a total transaction of $59,310.00. Following the sale, the director now directly owns 65,635 shares of the company’s stock, valued at $432,534.65. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.58% of the company’s stock.

Hedge Funds Weigh In On MBIA

Institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of MBIA by 3.6% in the 3rd quarter. State Street Corp now owns 1,015,523 shares of the insurance provider’s stock valued at $3,625,000 after buying an additional 35,104 shares during the period. Whitebox Advisors LLC grew its position in shares of MBIA by 6.3% during the 3rd quarter. Whitebox Advisors LLC now owns 844,431 shares of the insurance provider’s stock valued at $3,015,000 after acquiring an additional 50,000 shares during the period. TCW Group Inc. raised its holdings in MBIA by 76.3% in the 3rd quarter. TCW Group Inc. now owns 460,800 shares of the insurance provider’s stock worth $1,645,000 after purchasing an additional 199,500 shares during the period. Envestnet Asset Management Inc. boosted its position in MBIA by 9.3% during the second quarter. Envestnet Asset Management Inc. now owns 430,963 shares of the insurance provider’s stock worth $2,366,000 after purchasing an additional 36,691 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in MBIA by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 384,482 shares of the insurance provider’s stock valued at $1,373,000 after purchasing an additional 14,255 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

About MBIA

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.