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MBIA (NYSE:MBI) Stock Price Passes Below 200-Day Moving Average - Here's Why

MBIA logo with Finance background

Shares of MBIA, Inc. (NYSE:MBI - Get Free Report) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.34 and traded as low as $4.31. MBIA shares last traded at $4.41, with a volume of 63,073 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut their price objective on shares of MBIA from $9.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th.

Read Our Latest Stock Report on MBI

MBIA Stock Performance

The business's fifty day moving average price is $4.45 and its 200-day moving average price is $5.31. The stock has a market cap of $221.12 million, a PE ratio of -0.49 and a beta of 1.84.

MBIA (NYSE:MBI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The insurance provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.09). The firm had revenue of $14.00 million for the quarter, compared to analysts' expectations of $21.00 million. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. Analysts forecast that MBIA, Inc. will post -3.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MBIA

Institutional investors and hedge funds have recently made changes to their positions in the business. Aquatic Capital Management LLC purchased a new position in shares of MBIA in the fourth quarter worth approximately $50,000. Kahn Brothers Group Inc. bought a new stake in MBIA during the 4th quarter worth approximately $68,000. Nebula Research & Development LLC bought a new stake in MBIA during the 4th quarter worth approximately $77,000. ProShare Advisors LLC bought a new stake in MBIA during the 4th quarter worth approximately $81,000. Finally, XTX Topco Ltd bought a new stake in MBIA during the 4th quarter worth approximately $152,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

About MBIA

(Get Free Report)

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.

Further Reading

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