MBIA (NYSE:MBI) Share Price Passes Above 50 Day Moving Average - Here's Why

Key Points

• MBIA shares moved above their 50-day moving average during trading, briefly reaching $6.41 before last trading around $6.295. The stock’s 50-day average is $6.21.
• Analyst sentiment is mixed: Wall Street Zen upgraded MBIA to hold, while Weiss Ratings reaffirmed a sell rating. The current consensus rating is Hold with an average price target of $7.50.
• In its latest quarterly results, MBIA reported an EPS loss of $0.16, missing expectations, though revenue came in at $24.0 million versus a much lower estimate. The company is expected to post a full-year loss of $0.29 per share.

MBIA, Inc. (NYSE:MBI - Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.21 and traded as high as $6.41. MBIA shares last traded at $6.2950, with a volume of 358,670 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded MBIA from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of MBIA in a research note on Friday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $7.50.

MBIA Trading Down 1.5%

The business's 50 day moving average price is $6.21 and its two-hundred day moving average price is $6.25. The stock has a market cap of $320.63 million, a P/E ratio of -2.03 and a beta of 1.62.

MBIA (NYSE:MBI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The insurance provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). The company had revenue of $24.00 million for the quarter, compared to the consensus estimate of $5.80 million. As a group, analysts expect that MBIA, Inc. will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in MBIA in the third quarter worth $37,000. Dynamic Technology Lab Private Ltd bought a new position in shares of MBIA in the 3rd quarter worth about $77,000. AQR Capital Management LLC bought a new position in shares of MBIA in the 4th quarter worth about $83,000. State of Wyoming purchased a new position in MBIA during the 2nd quarter valued at about $101,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in MBIA during the 4th quarter valued at about $113,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

About MBIA

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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