MBIA (NYSE:MBI) Stock Crosses Above 50-Day Moving Average – What’s Next?

MBIA, Inc. (NYSE:MBI) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.99 and traded as high as $6.27. MBIA shares last traded at $6.1850, with a volume of 175,979 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MBI shares. Weiss Ratings restated a “sell (d-)” rating on shares of MBIA in a report on Tuesday, April 21st. Keefe, Bruyette & Woods decreased their target price on shares of MBIA from $8.50 to $7.50 and set an “outperform” rating for the company in a research note on Thursday, March 19th. Finally, Wall Street Zen upgraded shares of MBIA from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.50.

MBIA Trading Up 0.1%

The firm has a market capitalization of $315.00 million, a PE ratio of -2.00 and a beta of 1.64. The business’s 50 day simple moving average is $5.99 and its two-hundred day simple moving average is $6.44.

MBIA (NYSE:MBI) last announced its 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 business had revenue of $24.00 million for the quarter, compared to analyst estimates of $5.80 million. As a group, equities research analysts anticipate that MBIA, Inc. will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On MBIA

A number of hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC bought a new stake in shares of MBIA during the 3rd quarter valued at $29,000. Quarry LP bought a new stake in shares of MBIA during the 3rd quarter valued at $37,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of MBIA during the 3rd quarter valued at $77,000. AQR Capital Management LLC bought a new stake in shares of MBIA during the 4th quarter valued at $83,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of MBIA during the 4th quarter valued at $113,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.