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

MBIA (NYSE:MBI) had its price objective lowered by equities researchers at Roth Mkm from $7.00 to $4.50 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Roth Mkm’s price target would indicate a potential upside of 16.88% from the stock’s current price.

Separately, Keefe, Bruyette & Woods lowered their price target on shares of MBIA from $7.50 to $6.50 and set a “market perform” rating for the company in a report on Friday, May 31st.

MBIA Price Performance

Shares of MBI stock traded down $0.21 during mid-day trading on Wednesday, hitting $3.85. The stock had a trading volume of 578,249 shares, compared to its average volume of 511,295. MBIA has a fifty-two week low of $3.65 and a fifty-two week high of $14.37. The firm has a market cap of $197.42 million, a PE ratio of -0.38 and a beta of 1.45. The company’s 50-day simple moving average is $5.14 and its 200-day simple moving average is $5.95.

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

Insider Buying and Selling at MBIA

In other news, Director Theodore Shasta sold 21,405 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $5.52, for a total transaction of $118,155.60. Following the transaction, the director now directly owns 82,625 shares of the company’s stock, valued at $456,090. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.58% of the stock is currently owned by corporate insiders.

Institutional Trading of MBIA

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in MBIA by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 58,617 shares of the insurance provider’s stock valued at $397,000 after purchasing an additional 1,972 shares during the last quarter. Neuberger Berman Group LLC increased its stake in MBIA by 21.6% during the fourth quarter. Neuberger Berman Group LLC now owns 12,910 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 2,295 shares during the last quarter. Park Avenue Securities LLC increased its stake in MBIA by 11.0% during the first quarter. Park Avenue Securities LLC now owns 24,700 shares of the insurance provider’s stock valued at $167,000 after purchasing an additional 2,444 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in MBIA by 19.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,714 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 2,587 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in MBIA by 38.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 10,706 shares of the insurance provider’s stock valued at $66,000 after purchasing an additional 2,985 shares during the last quarter. 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.