MBIA (NYSE:MBI) Share Price Crosses Below 50 Day Moving Average – What’s Next?

Shares of MBIA Inc. (NYSE:MBI) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.27 and traded as low as $5.34. MBIA shares last traded at $5.37, with a volume of 173,743 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com lowered MBIA from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th.

MBIA Stock Performance

The stock has a market cap of $273.46 million, a price-to-earnings ratio of -0.47 and a beta of 1.64. The firm’s 50-day simple moving average is $6.27 and its two-hundred day simple moving average is $5.46.

MBIA (NYSE:MBI) last issued its quarterly earnings results on Thursday, February 27th. The insurance provider reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). The company had revenue of $29.00 million for the quarter, compared to analyst estimates of $28.70 million. Equities research analysts expect that MBIA Inc. will post -3.5 earnings per share for the current fiscal year.

Insider Transactions at MBIA

In other news, Director Theodore Shasta sold 9,570 shares of MBIA stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $6.74, for a total transaction of $64,501.80. Following the completion of the sale, the director now owns 61,794 shares in the company, valued at $416,491.56. The trade was a 13.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MBIA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wolf Hill Capital Management LP bought a new stake in shares of MBIA during the 4th quarter valued at $18,608,000. Hosking Partners LLP increased its holdings in MBIA by 1.9% in the fourth quarter. Hosking Partners LLP now owns 1,596,297 shares of the insurance provider’s stock valued at $10,312,000 after purchasing an additional 29,918 shares during the last quarter. State Street Corp lifted its stake in MBIA by 3.6% in the third 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. Geode Capital Management LLC boosted its holdings in MBIA by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 999,713 shares of the insurance provider’s stock worth $6,459,000 after buying an additional 19,263 shares during the last quarter. Finally, 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 worth $3,015,000 after buying an additional 50,000 shares during the period. 60.95% of the stock is owned by 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.