Keefe, Bruyette & Woods Lowers MBIA (NYSE:MBI) Price Target to $7.00

Key Points

• Keefe, Bruyette & Woods lowered MBIA’s price target from $7.50 to $7.00 but maintained an “outperform” rating, implying roughly 38% upside from the stock’s $5.06 price.
• Analyst sentiment is mixed: MBIA has an overall “Hold” consensus, with one Buy and one Sell rating, and a consensus price target of $7.00.
• MBIA recently reported a quarterly EPS loss of $0.14, missing estimates by $0.02, while institutional investors and hedge funds own approximately 60.95% of the stock.

MBIA (NYSE:MBI - Get Free Report) had its price objective cut by Keefe, Bruyette & Woods from $7.50 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 38.45% from the company's current price.

Several other research firms have also recently weighed in on MBI. Weiss Ratings reiterated a "sell (d-)" rating on shares of MBIA in a research report on Friday, July 17th. Wall Street Zen upgraded MBIA from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $7.00.

MBIA Trading Up 1.5%

Shares of MBI traded up $0.08 during midday trading on Thursday, hitting $5.06. The stock had a trading volume of 4,802 shares, compared to its average volume of 370,682. MBIA has a fifty-two week low of $4.84 and a fifty-two week high of $8.26. The business has a 50-day simple moving average of $6.01 and a two-hundred day simple moving average of $6.07. The firm has a market cap of $257.50 million, a P/E ratio of -1.75 and a beta of 1.62.

MBIA (NYSE:MBI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The firm had revenue of $27.00 million for the quarter, compared to analyst estimates of $5.75 million. On average, analysts expect that MBIA will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MBIA

Hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in MBIA by 2.5% during the third quarter. Alliancebernstein L.P. now owns 78,540 shares of the insurance provider's stock valued at $585,000 after purchasing an additional 1,900 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of MBIA by 4.6% in the fourth quarter. Deutsche Bank AG now owns 45,409 shares of the insurance provider's stock worth $325,000 after buying an additional 1,988 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MBIA by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 106,605 shares of the insurance provider's stock worth $764,000 after buying an additional 2,900 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of MBIA by 8.7% during the 4th quarter. Millennium Management LLC now owns 43,823 shares of the insurance provider's stock worth $314,000 after buying an additional 3,509 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of MBIA by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 69,789 shares of the insurance provider's stock worth $303,000 after buying an additional 3,626 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

MBIA Company Profile

MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.

Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.

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