MBIA (NYSE:MBI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of MBIA (NYSE:MBI) from a sell rating to a hold rating in a report published on Saturday.

A number of other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods decreased their price target 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBIA in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.50.

MBIA Trading Down 2.9%

Shares of MBIA stock opened at $5.86 on Friday. The firm has a market capitalization of $298.20 million, a PE ratio of -1.89 and a beta of 1.67. MBIA has a twelve month low of $4.11 and a twelve month high of $8.26. The firm’s 50-day moving average price is $5.98 and its 200 day moving average price is $6.62.

MBIA (NYSE:MBI) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported ($0.16) earnings per share 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 analysts’ expectations of $5.80 million. On average, sell-side analysts predict that MBIA will post -0.3 EPS for the current fiscal year.

Institutional Trading of MBIA

Hedge funds have recently bought and sold shares of the business. AlphaQuest LLC acquired a new stake in MBIA in the 3rd quarter valued at about $29,000. Quarry LP acquired a new stake in MBIA in the 3rd quarter valued at about $37,000. Dynamic Technology Lab Private Ltd acquired a new stake in MBIA in the 3rd quarter valued at about $77,000. Inscription Capital LLC acquired a new stake in MBIA in the 3rd quarter valued at about $78,000. Finally, AQR Capital Management LLC acquired a new stake in MBIA in the 4th quarter valued at about $83,000. Institutional investors and hedge funds 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.