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.

MBIA (NYSE:MBI) last announced its earnings results on Tuesday, November 6th. The insurance provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). MBIA had a negative return on equity of 25.28% and a negative net margin of 73.92%. The business had revenue of $105.00 million for the quarter, compared to analyst estimates of $58.50 million. During the same period last year, the firm earned ($0.91) EPS. The company’s revenue for the quarter was up 218.2% compared to the same quarter last year.

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.

COPYRIGHT VIOLATION WARNING: This story was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://www.watchlistnews.com/mbia-mbi-trading-down-5-9-after-insider-selling/2599195.html.

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.

Read More: What is dollar cost averaging (DCA)?

Receive News & Ratings for MBIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MBIA and related companies with MarketBeat.com's FREE daily email newsletter.