Keefe, Bruyette & Woods Issues Pessimistic Forecast for MBIA (NYSE:MBI) Stock Price

MBIA (NYSE:MBI - Get Free Report) had its price objective cut by stock analysts at Keefe, Bruyette & Woods from $9.00 to $8.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 68.78% from the company's previous close.

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

MBIA Price Performance

Shares of MBI stock traded up $0.09 during trading on Tuesday, reaching $4.74. The company had a trading volume of 14,417 shares, compared to its average volume of 447,555. The firm's 50 day simple moving average is $4.98 and its two-hundred day simple moving average is $5.62. The company has a market capitalization of $238.76 million, a PE ratio of -0.42 and a beta of 1.80. MBIA has a one year low of $3.22 and a one year high of $7.46.

MBIA (NYSE:MBI - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $28.70 million. Analysts forecast that MBIA will post -3.5 earnings per share for the current year.

Institutional Trading of MBIA

A number of large investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in MBIA by 279.1% during the 3rd quarter. Barclays PLC now owns 58,406 shares of the insurance provider's stock worth $209,000 after purchasing an additional 42,998 shares during the last quarter. TCW Group Inc. grew its holdings in shares of MBIA by 53.3% during the 4th quarter. TCW Group Inc. now owns 706,560 shares of the insurance provider's stock valued at $4,564,000 after purchasing an additional 245,760 shares during the last quarter. Freestone Capital Holdings LLC bought a new stake in MBIA during the 4th quarter worth $1,159,000. State Street Corp boosted its position in MBIA by 3.6% during the 3rd quarter. State Street Corp now owns 1,015,523 shares of the insurance provider's stock worth $3,625,000 after buying an additional 35,104 shares during the period. Finally, Wolf Hill Capital Management LP acquired a new stake in shares of MBIA in the fourth quarter valued at about $18,608,000. 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.