MBIA Inc. (NYSE:MBI) Director Richard C. Vaughan Sells 9,000 Shares

MBIA Inc. (NYSE:MBI) Director Richard C. Vaughan sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $6.59, for a total transaction of $59,310.00. Following the completion of the sale, the director now owns 65,635 shares of the company’s stock, valued at approximately $432,534.65. This trade represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

MBIA Stock Up 6.8 %

MBI stock opened at $7.03 on Friday. The stock has a market capitalization of $358.74 million, a P/E ratio of -0.62 and a beta of 1.41. The firm has a 50-day simple moving average of $4.20 and a 200-day simple moving average of $4.61. MBIA Inc. has a 52 week low of $3.22 and a 52 week high of $14.37.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MBI shares. Keefe, Bruyette & Woods upgraded shares of MBIA from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $6.50 to $9.00 in a research note on Monday, November 18th. Roth Mkm lowered their price objective on shares of MBIA from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.

Institutional Trading of MBIA

A number of institutional investors and hedge funds have recently modified their holdings of MBI. Barclays PLC boosted its position in MBIA by 279.1% during the third quarter. Barclays PLC now owns 58,406 shares of the insurance provider’s stock worth $209,000 after acquiring an additional 42,998 shares during the last quarter. TCW Group Inc. boosted its position in MBIA by 76.3% during the third quarter. TCW Group Inc. now owns 460,800 shares of the insurance provider’s stock worth $1,645,000 after acquiring an additional 199,500 shares during the last quarter. K2 Principal Fund L.P. acquired a new position in MBIA during the third quarter worth about $173,000. Jane Street Group LLC boosted its position in MBIA by 70.5% during the third quarter. Jane Street Group LLC now owns 78,814 shares of the insurance provider’s stock worth $281,000 after acquiring an additional 32,591 shares during the last quarter. Finally, Whitebox Advisors LLC boosted its position in MBIA by 6.3% during the third quarter. Whitebox Advisors LLC now owns 844,431 shares of the insurance provider’s stock worth $3,015,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.