MBIA (NYSE:MBI) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• MBIA, Inc. shares surpassed their 200-day moving average of $5.52, trading as high as $6.85 before closing at $6.68.
• Analysts have mixed ratings for MBIA, with one upgrade to a "hold" by Wall Street Zen and a "sell" rating reiterated by Weiss Ratings, leading to a consensus rating of "Hold" and an average price target of $8.00.
• Institutional investors hold a significant 60.95% of MBIA’s shares, with notable increases in stakes by several firms during the second quarter.

MBIA, Inc. (NYSE:MBI - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.52 and traded as high as $6.85. MBIA shares last traded at $6.68, with a volume of 385,541 shares changing hands.

Analysts Set New Price Targets

MBI has been the subject of a number of research analyst reports. Wall Street Zen upgraded MBIA from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of MBIA in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $8.00.

MBIA Trading Up 0.4%

The firm has a market cap of $337.02 million, a price-to-earnings ratio of -1.44 and a beta of 1.83. The stock has a 50-day moving average of $7.29 and a 200-day moving average of $5.52.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in MBIA during the 2nd quarter worth $101,000. Militia Capital Partners LP boosted its position in MBIA by 18.8% during the 2nd quarter. Militia Capital Partners LP now owns 39,800 shares of the insurance provider's stock worth $173,000 after acquiring an additional 6,300 shares during the period. Bluefin Capital Management LLC boosted its position in MBIA by 11.2% during the 2nd quarter. Bluefin Capital Management LLC now owns 113,499 shares of the insurance provider's stock worth $493,000 after acquiring an additional 11,457 shares during the period. Jane Street Group LLC boosted its position in MBIA by 78.9% during the 2nd quarter. Jane Street Group LLC now owns 96,755 shares of the insurance provider's stock worth $420,000 after acquiring an additional 42,669 shares during the period. Finally, Whitebox Advisors LLC boosted its position in MBIA by 7.7% during the 2nd quarter. Whitebox Advisors LLC now owns 317,106 shares of the insurance provider's stock worth $1,376,000 after acquiring an additional 22,675 shares during the period. Institutional investors and hedge funds own 60.95% of the company's stock.

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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