MBIA (NYSE:MBI) Share Price Passes Below 200-Day Moving Average - Here's What Happened

Key Points

• Shares of MBIA crossed below its 200-day moving average of $6.85, trading as low as $5.70 and last at $5.925 with about 210,180 shares changing hands.
• Analysts have cut targets and ratings recently — Keefe, Bruyette & Woods lowered its price objective to $7.50 (outperform), Wall Street Zen downgraded to sell, Weiss reaffirmed a sell, and the consensus price target is $7.50 with an average rating of "Hold."
• MBIA reported quarterly EPS of ($0.24), missing estimates by $0.19 while beating revenue expectations, and analysts forecast roughly -3.5 EPS for the current fiscal year.

Shares of MBIA, Inc. (NYSE:MBI - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.85 and traded as low as $5.70. MBIA shares last traded at $5.9250, with a volume of 210,180 shares trading hands.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of MBIA from $8.50 to $7.50 and set an "outperform" rating on the stock in a research note on Thursday, March 19th. Wall Street Zen downgraded MBIA from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MBIA in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, MBIA has an average rating of "Hold" and a consensus price target of $7.50.

MBIA Trading Down 0.3%

The firm has a fifty day simple moving average of $6.18 and a 200-day simple moving average of $6.85. The stock has a market cap of $301.76 million, a price-to-earnings ratio of -1.66 and a beta of 1.81.

MBIA (NYSE:MBI - Get Free Report) last released its earnings results on Thursday, February 26th. The insurance provider reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.19). The firm had revenue of $28.00 million during the quarter, compared to the consensus estimate of $26.50 million. On average, equities analysts predict that MBIA, Inc. will post -3.5 earnings per share for the current fiscal year.

Institutional Trading of MBIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC acquired a new position in MBIA during the 3rd quarter valued at about $29,000. Quarry LP bought a new stake in shares of MBIA during the third quarter worth approximately $37,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of MBIA during the third quarter worth approximately $77,000. Inscription Capital LLC acquired a new position in MBIA in the third quarter valued at approximately $78,000. Finally, AQR Capital Management LLC acquired a new position in MBIA in the fourth quarter valued at approximately $83,000. 60.95% of the stock is owned by institutional investors.

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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