MBIA (NYSE:MBI) Raised to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of MBIA (NYSE:MBI) from a market perform rating to an outperform rating in a research note published on Monday morning, MarketBeat Ratings reports. They currently have $9.00 price objective on the insurance provider’s stock, up from their previous price objective of $6.50.

Separately, Roth Mkm dropped their target price on MBIA from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.

MBIA Stock Performance

MBI stock opened at $6.58 on Monday. The company has a 50 day moving average price of $4.13 and a two-hundred day moving average price of $4.62. The stock has a market capitalization of $335.93 million, a P/E ratio of -0.58 and a beta of 1.41. MBIA has a one year low of $3.22 and a one year high of $14.37.

Insider Buying and Selling

In other MBIA news, Director Richard C. Vaughan sold 9,000 shares of MBIA stock in a transaction that occurred 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 transaction, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 12.58% of the company’s stock.

Hedge Funds Weigh In On MBIA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in 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 acquiring an additional 2,090 shares in the last quarter. Seelaus Asset Management LLC acquired a new position in shares of MBIA during the third quarter worth $45,000. Quantbot Technologies LP boosted its stake in shares of MBIA by 476.5% in the third quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 11,784 shares during the period. Sanctuary Advisors LLC acquired a new stake in MBIA during the 2nd quarter valued at $83,000. Finally, Envestnet Portfolio Solutions Inc. increased its stake in MBIA by 19.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,714 shares of the insurance provider’s stock worth $106,000 after buying an additional 2,587 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.