Insider Selling: MBIA Inc. (NYSE:MBI) Director Sells 11,261 Shares of Stock

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 11,261 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 71,364 shares of the company’s stock, valued at $437,461.32. The trade was a 13.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

MBIA Stock Down 1.0 %

MBI stock opened at $6.83 on Friday. MBIA Inc. has a 52 week low of $3.22 and a 52 week high of $7.16. The company has a fifty day simple moving average of $5.87 and a two-hundred day simple moving average of $4.76. The firm has a market capitalization of $348.53 million, a P/E ratio of -0.60 and a beta of 1.61.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MBI shares. Keefe, Bruyette & Woods raised shares of MBIA from a “market perform” rating to an “outperform” rating and raised their target price for the company from $6.50 to $9.00 in a research note on Monday, November 18th. StockNews.com upgraded shares of MBIA from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th.

Hedge Funds Weigh In On MBIA

Several institutional investors have recently bought and sold shares of MBI. BNP Paribas Financial Markets lifted its holdings in shares of MBIA by 26.6% in 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 during the last quarter. Seelaus Asset Management LLC bought a new stake in shares of MBIA in the 3rd quarter worth about $45,000. Quantbot Technologies LP lifted its holdings in shares of MBIA by 476.5% in the 3rd quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 11,784 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of MBIA in the 2nd quarter worth about $83,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of MBIA in the 3rd quarter worth about $173,000. Institutional investors 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.