ValuEngine upgraded shares of MBIA, Inc. (NYSE:MBI) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

A number of other research firms also recently issued reports on MBI. BidaskClub downgraded shares of MBIA from a hold rating to a sell rating in a research report on Saturday, August 5th. BTIG Research restated a buy rating and set a $14.00 target price on shares of MBIA in a research report on Wednesday, September 6th. Finally, MKM Partners restated a buy rating and set a $15.00 target price on shares of MBIA in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. MBIA has an average rating of Buy and a consensus target price of $14.50.

MBIA (MBI) traded up $0.06 during trading on Thursday, reaching $8.90. 3,483,392 shares of the company’s stock were exchanged, compared to its average volume of 2,569,589. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.37 and a current ratio of 2.09. MBIA has a 52 week low of $6.04 and a 52 week high of $11.65.

MBIA (NYSE:MBI) last released its earnings results on Tuesday, November 7th. The insurance provider reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($1.01). The business had revenue of $33.00 million for the quarter, compared to the consensus estimate of $85.85 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The company’s revenue for the quarter was down 83.7% on a year-over-year basis.

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MBIA announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 7th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Several large investors have recently made changes to their positions in MBI. UBS Asset Management Americas Inc. raised its position in shares of MBIA by 20.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 105,775 shares of the insurance provider’s stock valued at $896,000 after acquiring an additional 17,886 shares during the period. Teachers Advisors LLC raised its position in shares of MBIA by 3.2% in the 1st quarter. Teachers Advisors LLC now owns 220,218 shares of the insurance provider’s stock valued at $1,865,000 after acquiring an additional 6,816 shares during the period. Vanguard Group Inc. raised its position 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 acquiring an additional 511,194 shares during the period. Geode Capital Management LLC raised its position in shares of MBIA by 9.0% in the 1st quarter. Geode Capital Management LLC now owns 1,019,255 shares of the insurance provider’s stock valued at $8,633,000 after acquiring an additional 84,095 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of MBIA by 8.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 998,018 shares of the insurance provider’s stock valued at $8,454,000 after acquiring an additional 81,777 shares during the period. Institutional investors and hedge funds own 92.07% of the company’s stock.

About MBIA

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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