MBIA Inc. (NYSE:MBI) Director Theodore Shasta Sells 11,261 Shares

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 11,261 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $6.13, for a total transaction of $69,029.93. Following the sale, the director now directly owns 71,364 shares in the company, valued at $437,461.32. This trade represents a 13.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

MBIA Price Performance

Shares of NYSE MBI opened at $6.90 on Friday. MBIA Inc. has a fifty-two week low of $3.22 and a fifty-two week high of $7.16. The firm has a market capitalization of $352.11 million, a P/E ratio of -0.61 and a beta of 1.61. The company’s 50 day simple moving average is $5.81 and its 200 day simple moving average is $4.75.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. TCW Group Inc. grew its stake in shares of MBIA by 76.3% during the third 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. GSA Capital Partners LLP boosted its holdings in MBIA by 321.0% during the third quarter. GSA Capital Partners LLP now owns 316,234 shares of the insurance provider’s stock worth $1,129,000 after buying an additional 241,116 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of MBIA by 26.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock worth $35,000 after buying an additional 2,090 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of MBIA by 9.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 430,963 shares of the insurance provider’s stock valued at $2,366,000 after acquiring an additional 36,691 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of MBIA by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 384,482 shares of the insurance provider’s stock valued at $1,373,000 after acquiring an additional 14,255 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MBI. Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $6.50 to $9.00 in a research report on Monday, November 18th. StockNews.com upgraded MBIA from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th.

MBIA Company Profile

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.