MBIA (NYSE:MBI) Raised to Hold at Wall Street Zen

Key Points

• MBIA has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a more favorable outlook for the stock.
• Keefe, Bruyette & Woods has lowered their price target for MBIA shares from $9.00 to $8.00, while maintaining an "outperform" rating.
• The stock price of MBIA saw an increase of 2.8%, with shares opening at $7.6570, and the company has a market cap of $386.60 million.

MBIA (NYSE:MBI - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Separately, Keefe, Bruyette & Woods reduced their price target on shares of MBIA from $9.00 to $8.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, MBIA presently has a consensus rating of "Buy" and an average target price of $8.00.

MBIA Stock Up 2.8%

Shares of NYSE MBI opened at $7.6570 on Friday. The firm has a market cap of $386.60 million, a price-to-earnings ratio of -1.65 and a beta of 1.85. MBIA has a 52-week low of $3.22 and a 52-week high of $7.71. The company's 50-day simple moving average is $5.16 and its 200-day simple moving average is $5.14.

Hedge Funds Weigh In On MBIA

Several hedge funds have recently added to or reduced their stakes in MBI. Aquatic Capital Management LLC acquired a new stake in shares of MBIA in the fourth quarter worth approximately $50,000. Kahn Brothers Group Inc. acquired a new stake in MBIA in the fourth quarter valued at $68,000. Nebula Research & Development LLC acquired a new stake in MBIA in the fourth quarter valued at $77,000. ProShare Advisors LLC acquired a new stake in shares of MBIA during the fourth quarter worth $81,000. Finally, State of Wyoming acquired a new stake in shares of MBIA during the second quarter worth $101,000. 60.95% of the stock is currently owned by hedge funds and other 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.

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