MBIA, Inc. (NYSE:MBI) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

A number of other brokerages also recently issued reports on MBI. MKM Partners reissued a “buy” rating and set a $15.00 price target on shares of MBIA in a research report on Friday, August 11th. BidaskClub downgraded MBIA from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, BTIG Research reissued a “buy” rating and set a $14.00 price target on shares of MBIA in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.50.

MBIA (MBI) opened at $8.49 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.94. MBIA has a 52 week low of $6.04 and a 52 week high of $11.65.

MBIA (NYSE:MBI) last issued its quarterly earnings results on Tuesday, November 7th. The insurance provider reported ($0.91) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($1.01). The company had revenue of $33.00 million during the quarter, compared to analyst estimates of $85.85 million. MBIA’s quarterly revenue was down 83.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 earnings per share.

MBIA announced that its Board of Directors has initiated a share buyback program on Tuesday, November 7th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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Large investors have recently modified their holdings of the stock. Trellus Management Company LLC acquired a new stake in MBIA during the third quarter worth approximately $740,000. Kahn Brothers Group Inc. DE boosted its holdings in shares of MBIA by 1.3% in the 2nd quarter. Kahn Brothers Group Inc. DE now owns 4,483,598 shares of the insurance provider’s stock valued at $42,280,000 after purchasing an additional 57,400 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of MBIA by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 10,442,849 shares of the insurance provider’s stock valued at $88,451,000 after purchasing an additional 511,194 shares in the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of MBIA by 146.8% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 255,530 shares of the insurance provider’s stock valued at $2,530,000 after purchasing an additional 151,990 shares in the last quarter. Finally, Credit Suisse AG boosted its holdings in shares of MBIA by 28.3% in the 1st quarter. Credit Suisse AG now owns 188,435 shares of the insurance provider’s stock valued at $1,596,000 after purchasing an additional 41,512 shares in the last quarter.

MBIA Company Profile

MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.

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