Roth Mkm Cuts MBIA (NYSE:MBI) Price Target to $4.50

MBIA (NYSE:MBI) had its price target trimmed by Roth Mkm from $7.00 to $4.50 in a report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

Separately, Keefe, Bruyette & Woods reduced their price objective on MBIA from $7.50 to $6.50 and set a market perform rating for the company in a research note on Friday, May 31st.

MBIA Stock Down 3.5 %

NYSE MBI traded down $0.14 on Wednesday, hitting $3.82. The company’s stock had a trading volume of 523,182 shares, compared to its average volume of 516,189. The company’s 50-day moving average is $5.03 and its 200 day moving average is $5.90. The firm has a market cap of $195.88 million, a PE ratio of -0.38 and a beta of 1.45. MBIA has a 1-year low of $3.65 and a 1-year high of $14.37.

MBIA (NYSE:MBI) last posted its quarterly earnings data on Tuesday, August 6th. The insurance provider reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($2.75). The company had revenue of ($37.00) million during the quarter, compared to analyst estimates of $29.00 million. During the same period last year, the firm earned ($0.45) EPS. On average, equities analysts expect that MBIA will post -0.75 EPS for the current year.

Insider Transactions at MBIA

In related news, Director Theodore Shasta sold 21,405 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $5.52, for a total transaction of $118,155.60. Following the completion of the sale, the director now owns 82,625 shares in the company, valued at $456,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MBIA

A number of hedge funds have recently made changes to their positions in MBI. Principal Securities Inc. purchased a new position in MBIA in the fourth quarter valued at approximately $25,000. SRS Capital Advisors Inc. grew its stake in shares of MBIA by 38.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 10,706 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 2,985 shares during the period. Neuberger Berman Group LLC increased its holdings in MBIA by 21.6% in the 4th quarter. Neuberger Berman Group LLC now owns 12,910 shares of the insurance provider’s stock worth $79,000 after acquiring an additional 2,295 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in MBIA in the 4th quarter valued at about $80,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in MBIA in the 4th quarter valued at about $87,000. 60.95% of the stock is currently owned by institutional investors.

About MBIA

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.