MBIA (NYSE:MBI) Upgraded at StockNews.com

MBIA (NYSE:MBIGet Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

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

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MBIA Price Performance

MBIA stock traded down $0.06 during mid-day trading on Tuesday, reaching $6.34. 236,397 shares of the company traded hands, compared to its average volume of 486,781. MBIA has a 52-week low of $3.22 and a 52-week high of $14.25. The firm has a market capitalization of $323.53 million, a price-to-earnings ratio of -0.56 and a beta of 1.61. The firm’s 50 day moving average price is $5.17 and its 200 day moving average price is $4.68.

Insider Buying and Selling

In related news, Director Richard C. Vaughan sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $6.59, for a total transaction of $59,310.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MBIA

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in shares of MBIA by 26.6% during the third quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock valued at $35,000 after buying an additional 2,090 shares during the last quarter. Seelaus Asset Management LLC bought a new stake in shares of MBIA in the 3rd quarter worth $45,000. Quantbot Technologies LP raised its stake in shares of MBIA by 476.5% in the third quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 11,784 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of MBIA during the second quarter valued at $83,000. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of MBIA by 34.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 21,065 shares of the insurance provider’s stock valued at $116,000 after purchasing an additional 5,351 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

About MBIA

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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.

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