MKM Partners reaffirmed their buy rating on shares of MBIA, Inc. (NYSE:MBI) in a report issued on Thursday.

MBI has been the subject of several other research reports. BTIG Research reaffirmed a buy rating and set a $14.00 price objective on shares of MBIA in a research note on Tuesday, June 27th. BidaskClub raised shares of MBIA from a strong sell rating to a sell rating in a research note on Thursday, June 29th.

MBIA (NYSE MBI) traded up 0.13% on Thursday, reaching $7.65. The company had a trading volume of 5,568,851 shares. The company’s 50-day moving average price is $9.67 and its 200 day moving average price is $9.16. The firm’s market capitalization is $962.49 million. MBIA has a 1-year low of $7.15 and a 1-year high of $11.65.

MBIA (NYSE:MBI) last announced its quarterly earnings data on Tuesday, August 8th. The insurance provider reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($1.10). The company had revenue of $72.00 million for the quarter, compared to the consensus estimate of $87.85 million. During the same period in the previous year, the company posted $0.12 earnings per share. The company’s quarterly revenue was down 39.0% compared to the same quarter last year. On average, equities analysts forecast that MBIA will post ($0.76) EPS for the current year.

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MBIA announced that its board has authorized a stock repurchase plan on Tuesday, June 27th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the insurance provider to reacquire up to 21.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its stake in shares of MBIA by 0.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 12,484 shares of the insurance provider’s stock valued at $106,000 after buying an additional 99 shares during the period. Financial Partners Capital Management LLC grew its stake in shares of MBIA by 12.4% in the 2nd quarter. Financial Partners Capital Management LLC now owns 11,294 shares of the insurance provider’s stock valued at $107,000 after buying an additional 1,250 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of MBIA in the 2nd quarter valued at approximately $116,000. Trexquant Investment LP purchased a new stake in shares of MBIA in the 1st quarter valued at approximately $125,000. Finally, Intl Fcstone Inc. purchased a new stake in shares of MBIA in the 2nd quarter valued at approximately $127,000. 92.03% of the stock is owned by institutional investors and hedge funds.

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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