MBIA (NYSE:MBI) Share Price Breaks Above 50-Day Moving Average - What's Next?

Key Points

• MBIA shares rose 2.8%, trading as high as $4.66 and moving above the 50-day moving average of $4.54, although they remained below the 200-day average of $5.66.
• Analyst sentiment is mixed: Keefe, Bruyette & Woods cut its price target to $7.00 while maintaining an “outperform” rating, and Weiss Ratings downgraded the stock. The consensus rating is “Hold,” with a $7.00 target price.
• MBIA reported a quarterly loss of $0.14 per share, missing estimates by $0.02, and analysts expect a full-year loss of $0.38 per share. Institutional investors and hedge funds own approximately 60.95% of the company.

Shares of MBIA, Inc. (NYSE:MBI - Get Free Report) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $4.54 and traded as high as $4.66. MBIA shares last traded at $4.5830, with a volume of 290,668 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price on MBIA from $7.50 to $7.00 and set an "outperform" rating for the company in a report on Thursday, August 13th. Weiss Ratings downgraded shares of MBIA from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, October 13th. One investment 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, the stock currently has an average rating of "Hold" and a consensus target price of $7.00.

MBIA Stock Up 2.8%

The company's fifty day moving average price is $4.54 and its 200 day moving average price is $5.66. The company has a market capitalization of $233.41 million, a P/E ratio of -1.59 and a beta of 1.76.

MBIA (NYSE:MBI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The firm had revenue of $27.00 million for the quarter, compared to the consensus estimate of $5.75 million. Research analysts predict that MBIA, Inc. will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MBIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inscription Capital LLC bought a new position in shares of MBIA in the third quarter worth $63,000. Steinberganna Wealth Management raised its stake in MBIA by 39.3% in the third quarter. Steinberganna Wealth Management now owns 25,075 shares of the insurance provider's stock valued at $107,000 after purchasing an additional 7,075 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in MBIA during the second quarter worth about $92,000. HighTower Advisors LLC lifted its position in MBIA by 50.0% during the second quarter. HighTower Advisors LLC now owns 69,397 shares of the insurance provider's stock worth $452,000 after purchasing an additional 23,146 shares during the period. Finally, Bluefin Capital Management LLC lifted its position in MBIA by 18.6% during the second quarter. Bluefin Capital Management LLC now owns 115,006 shares of the insurance provider's stock worth $750,000 after purchasing an additional 18,000 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

MBIA Company Profile

MBIA Inc NYSE: MBI is a financial services holding company that provides financial guarantee insurance through its operating subsidiaries. Its guarantees are designed to support the payment of scheduled principal and interest on insured obligations, primarily by enhancing the credit quality of bonds and other debt securities.

MBIA's principal businesses have historically included public finance insurance and structured finance activities. National Public Finance Guarantee Corporation provides insurance for U.S.

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