MBIA Inc. (NYSE:MBI) Sees Large Decline in Short Interest

MBIA Inc. (NYSE:MBI) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,710,000 shares, a drop of 19.0% from the November 15th total of 2,110,000 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 477,500 shares, the days-to-cover ratio is presently 3.6 days.

Insider Buying and Selling

In other news, Director Richard C. Vaughan sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $6.59, for a total value of $59,310.00. Following the transaction, the director now owns 65,635 shares of the company’s stock, valued at $432,534.65. This trade represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.58% of the stock is currently owned by insiders.

Institutional Trading of MBIA

A number of institutional investors and hedge funds have recently bought and sold shares of MBI. State Street Corp boosted its holdings in shares of MBIA by 3.6% during the 3rd quarter. State Street Corp now owns 1,015,523 shares of the insurance provider’s stock valued at $3,625,000 after purchasing an additional 35,104 shares during the last quarter. Whitebox Advisors LLC lifted its position in shares of MBIA by 6.3% in the third quarter. Whitebox Advisors LLC now owns 844,431 shares of the insurance provider’s stock worth $3,015,000 after buying an additional 50,000 shares in the last quarter. TCW Group Inc. boosted its stake in MBIA by 76.3% during the third quarter. TCW Group Inc. now owns 460,800 shares of the insurance provider’s stock valued at $1,645,000 after buying an additional 199,500 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in MBIA by 9.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 430,963 shares of the insurance provider’s stock valued at $2,366,000 after buying an additional 36,691 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in MBIA by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 384,482 shares of the insurance provider’s stock worth $1,373,000 after acquiring an additional 14,255 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised MBIA from a “market perform” rating to an “outperform” rating and raised their price target for the company from $6.50 to $9.00 in a report on Monday, November 18th.

MBIA Stock Performance

MBI traded down $0.13 during trading on Friday, reaching $6.10. 147,338 shares of the company traded hands, compared to its average volume of 488,985. The company has a market cap of $311.28 million, a P/E ratio of -0.54 and a beta of 1.61. MBIA has a 12-month low of $3.22 and a 12-month high of $14.37. The firm has a fifty day simple moving average of $5.11 and a 200 day simple moving average of $4.69.

MBIA Company Profile

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.