MBIA (NYSE:MBI) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

MBIA Inc. (NYSE:MBI) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty 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 traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of MBIA from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th.

MBIA Stock Performance

The company has a 50-day moving average of $6.27 and a 200-day moving average of $5.46. The firm has a market capitalization of $273.46 million, a price-to-earnings ratio of -0.47 and a beta of 1.64.

MBIA (NYSE:MBI) last released its quarterly earnings results on Thursday, February 27th. The insurance provider reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.17). The firm had revenue of $29.00 million for the quarter, compared to the consensus estimate of $28.70 million. As a group, analysts anticipate that MBIA Inc. will post -3.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other MBIA news, Director Theodore Shasta sold 9,570 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $6.74, for a total value of $64,501.80. Following the sale, the director now owns 61,794 shares in the company, 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 this link. Corporate insiders own 12.58% of the company’s stock.

Institutional Trading of MBIA

A number of hedge funds and other institutional investors have recently made changes to their positions in MBI. Squarepoint Ops LLC boosted its holdings in MBIA by 19.1% during the fourth quarter. Squarepoint Ops LLC now owns 170,583 shares of the insurance provider’s stock worth $1,102,000 after purchasing an additional 27,369 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of MBIA by 171.3% during the 4th quarter. Two Sigma Advisers LP now owns 123,850 shares of the insurance provider’s stock worth $800,000 after buying an additional 78,200 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of MBIA by 49.0% in the 4th quarter. Two Sigma Investments LP now owns 380,182 shares of the insurance provider’s stock valued at $2,456,000 after acquiring an additional 125,039 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of MBIA in the fourth quarter valued at about $311,000. Finally, ProShare Advisors LLC acquired a new stake in shares of MBIA in the fourth quarter valued at about $81,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.