Theodore Shasta Sells 9,570 Shares of MBIA Inc. (NYSE:MBI) Stock

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 9,570 shares of MBIA stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $6.74, for a total value of $64,501.80. Following the sale, the director now directly owns 61,794 shares of the company’s stock, valued at approximately $416,491.56. The trade was a 13.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Theodore Shasta also recently made the following trade(s):

• On Monday, December 30th, Theodore Shasta sold 11,261 shares of MBIA stock. The stock was sold at an average price of $6.13, for a total value of $69,029.93.

MBIA Price Performance

NYSE MBI opened at $6.92 on Wednesday. The firm has a market cap of $353.13 million, a P/E ratio of -0.61 and a beta of 1.62. The stock’s 50-day moving average is $5.99 and its two-hundred day moving average is $4.77. MBIA Inc. has a fifty-two week low of $3.22 and a fifty-two week high of $7.16.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in MBIA by 10.9% during the second quarter. Bank of New York Mellon Corp now owns 200,447 shares of the insurance provider’s stock valued at $1,100,000 after purchasing an additional 19,753 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in 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 buying an additional 36,691 shares during the last quarter. Renaissance Technologies LLC grew its stake in MBIA by 427.9% in the 2nd quarter. Renaissance Technologies LLC now owns 119,174 shares of the insurance provider’s stock valued at $654,000 after buying an additional 96,600 shares during the last quarter. Whitebox Advisors LLC raised its holdings in MBIA by 86.8% in the 2nd quarter. Whitebox Advisors LLC now owns 794,431 shares of the insurance provider’s stock worth $4,361,000 after acquiring an additional 369,255 shares during the period. Finally, Squarepoint Ops LLC lifted its position in MBIA by 140.8% during the 2nd quarter. Squarepoint Ops LLC now owns 92,186 shares of the insurance provider’s stock worth $506,000 after acquiring an additional 53,910 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MBI has been the subject of several recent research reports. Keefe, Bruyette & Woods raised MBIA from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $6.50 to $9.00 in a research note on Monday, November 18th. StockNews.com raised shares of MBIA from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th.

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.