Somewhat Favorable Press Coverage Somewhat Unlikely to Affect MBIA (MBI) Share Price
Media coverage about MBIA (NYSE:MBI) has trended somewhat positive this week, according to Accern Sentiment. Accern scores the sentiment of media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. MBIA earned a news impact score of 0.21 on Accern’s scale. Accern also assigned press coverage about the insurance provider an impact score of 45.9067805604565 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the news stories that may have effected Accern’s scoring:
- MBIA’s (MBI) “Buy” Rating Reaffirmed at BTIG Research (americanbankingnews.com)
- MBIA (MBI) and its Competitors Head to Head Contrast (americanbankingnews.com)
- MBIA: It’s Not All About Puerto Rico (finance.yahoo.com)
- MBIA Inc. (NYSE:MBI) Experiences Lighter than Average Trading Volume (highlightpress.com)
- Is Margin of Safety Enough? (finance.yahoo.com)
A number of brokerages have recently commented on MBI. MKM Partners reaffirmed a “buy” rating and issued a $15.00 target price on shares of MBIA in a report on Friday, August 11th. BTIG Research reaffirmed a “buy” rating and issued a $14.00 target price on shares of MBIA in a report on Friday, July 14th. Finally, BidaskClub cut shares of MBIA from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.
Shares of MBIA (NYSE MBI) traded up 2.98% on Monday, hitting $10.36. 844,700 shares of the stock were exchanged. MBIA has a one year low of $7.14 and a one year high of $11.65. The firm’s 50 day moving average price is $10.12 and its 200 day moving average price is $9.19. The firm’s market cap is $1.30 billion.
MBIA (NYSE:MBI) last posted its quarterly earnings results on Tuesday, August 8th. The insurance provider reported ($1.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $1.10. The firm had revenue of $72 million for the quarter, compared to the consensus estimate of $87.85 million. During the same quarter in the prior year, the firm posted $0.12 EPS. The business’s revenue was down 39.0% on a year-over-year basis. Equities analysts anticipate that MBIA will post ($0.76) earnings per share for the current year.
MBIA announced that its Board of Directors has authorized a stock buyback plan on Tuesday, June 27th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 21.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Charles R. Rinehart acquired 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were purchased at an average cost of $9.25 per share, for a total transaction of $370,000.00. Following the transaction, the director now directly owns 212,592 shares in the company, valued at approximately $1,966,476. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven J. Gilbert acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was purchased at an average price of $8.96 per share, for a total transaction of $448,000.00. Following the completion of the transaction, the director now owns 132,073 shares in the company, valued at $1,183,374.08. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 177,033 shares of company stock worth $1,589,112. 4.11% of the stock is currently owned by insiders.
MBIA Company Profile
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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