MBIA (MBI) Trading Down 5.9% After Insider Selling
MBIA Inc. (NYSE:MBI) shares dropped 5.9% on Friday after an insider sold shares in the company. The stock traded as low as $9.41 and last traded at $9.47. Approximately 1,560,563 shares were traded during trading, an increase of 26% from the average daily volume of 1,238,658 shares. The stock had previously closed at $10.06.
Specifically, major shareholder Fine Capital Partners, L.P. sold 200,000 shares of MBIA stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $10.09, for a total value of $2,018,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.11% of the stock is currently owned by company insiders.
The company has a debt-to-equity ratio of 4.67, a current ratio of 1.75 and a quick ratio of 1.79.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new stake in MBIA during the 2nd quarter worth $109,000. Trexquant Investment LP acquired a new stake in MBIA during the 3rd quarter worth $139,000. LPL Financial LLC acquired a new stake in MBIA during the 1st quarter worth $129,000. First Hawaiian Bank acquired a new stake in MBIA during the 3rd quarter worth $234,000. Finally, Wagner Bowman Management Corp acquired a new stake in MBIA during the 3rd quarter worth $353,000.
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MBIA Company Profile (NYSE:MBI)
MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through 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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