MBIA Inc. (NYSE:MBI) Director Sells $69,029.93 in Stock

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 11,261 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $6.13, for a total value of $69,029.93. Following the completion of the sale, the director now owns 71,364 shares of the company’s stock, valued at $437,461.32. This represents a 13.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

MBIA Trading Down 1.0 %

MBI stock opened at $6.83 on Friday. MBIA Inc. has a 1-year low of $3.22 and a 1-year high of $7.16. The business’s 50 day moving average is $5.87 and its 200-day moving average is $4.76. The firm has a market cap of $348.53 million, a P/E ratio of -0.60 and a beta of 1.61.

Wall Street Analysts Forecast Growth

MBI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and upped their target price for the company from $6.50 to $9.00 in a research note on Monday, November 18th. StockNews.com upgraded shares of MBIA from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th.

Institutional Trading of MBIA

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in shares of MBIA by 26.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 2,090 shares in the last quarter. Seelaus Asset Management LLC bought a new position in MBIA during the 3rd quarter valued at about $45,000. Quantbot Technologies LP boosted its position in MBIA by 476.5% in the third quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock valued at $51,000 after buying an additional 11,784 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in MBIA during the second quarter worth about $83,000. Finally, K2 Principal Fund L.P. bought a new stake in MBIA during the third quarter worth about $173,000. 60.95% of the stock is currently owned by institutional investors.

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.