MBIA (NYSE:MBI) PT Lowered to $7.50 at Keefe, Bruyette & Woods

MBIA (NYSE:MBIFree Report) had its price target trimmed by Keefe, Bruyette & Woods from $9.00 to $7.50 in a report published on Monday, Benzinga reports. The firm currently has a market perform rating on the insurance provider’s stock.

Several other brokerages also recently weighed in on MBI. StockNews.com upgraded MBIA to a sell rating in a research note on Friday, February 23rd. Roth Capital downgraded MBIA from a buy rating to a neutral rating in a research note on Friday, December 8th. Finally, Roth Mkm decreased their target price on MBIA from $15.00 to $7.00 and set a neutral rating for the company in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $9.50.

Check Out Our Latest Analysis on MBIA

MBIA Stock Performance

MBI opened at $6.31 on Monday. The company has a market cap of $323.58 million, a PE ratio of -0.62 and a beta of 1.46. The stock has a 50-day moving average of $6.52 and a 200-day moving average of $7.23. MBIA has a 52-week low of $5.21 and a 52-week high of $14.37.

MBIA (NYSE:MBIGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The insurance provider reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.20). The firm had revenue of ($31.00) million during the quarter, compared to the consensus estimate of $32.00 million. During the same period in the previous year, the business posted $0.30 EPS. On average, research analysts predict that MBIA will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On MBIA

Several large investors have recently added to or reduced their stakes in MBI. Wellington Management Group LLP acquired a new position in MBIA in the 1st quarter valued at approximately $9,206,000. Millennium Management LLC raised its holdings in MBIA by 209.0% in the 4th quarter. Millennium Management LLC now owns 832,872 shares of the insurance provider’s stock valued at $10,702,000 after acquiring an additional 563,298 shares in the last quarter. Newtyn Management LLC raised its holdings in MBIA by 31.6% in the 4th quarter. Newtyn Management LLC now owns 1,875,000 shares of the insurance provider’s stock valued at $11,475,000 after acquiring an additional 450,000 shares in the last quarter. Madison Avenue Partners LP acquired a new position in shares of MBIA in the 4th quarter worth approximately $4,260,000. Finally, BlackRock Inc. raised its holdings in shares of MBIA by 8.5% in the 1st quarter. BlackRock Inc. now owns 3,722,576 shares of the insurance provider’s stock worth $34,471,000 after buying an additional 290,439 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

About MBIA

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MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (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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