MBIA (NYSE:MBI) Cut to “Sell” at ValuEngine

ValuEngine downgraded shares of MBIA (NYSE:MBI) from a hold rating to a sell rating in a report published on Thursday morning, ValuEngine reports.

Shares of MBI traded down $0.07 during mid-day trading on Thursday, reaching $8.01. The stock had a trading volume of 645,383 shares, compared to its average volume of 814,005. The firm has a market cap of $542.28 million, a price-to-earnings ratio of -0.89 and a beta of 0.94. MBIA has a 12 month low of $4.93 and a 12 month high of $10.90. The business has a fifty day moving average of $7.23 and a 200 day moving average of $7.74. The company has a debt-to-equity ratio of 5.88, a quick ratio of 1.68 and a current ratio of 1.68.

MBIA (NYSE:MBI) last issued its earnings results on Monday, May 11th. The insurance provider reported ($0.65) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.48). MBIA had a negative return on equity of 11.99% and a negative net margin of 128.21%. The company had revenue of ($6.00) million for the quarter, compared to the consensus estimate of $44.63 million. During the same quarter in the prior year, the company posted $0.45 EPS.

In related news, Director Theodore Shasta sold 18,689 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $6.99, for a total transaction of $130,636.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.81% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in MBIA by 12.7% during the fourth quarter. Victory Capital Management Inc. now owns 17,204 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 1,940 shares in the last quarter. First Trust Advisors LP raised its stake in shares of MBIA by 10.6% in the second quarter. First Trust Advisors LP now owns 20,500 shares of the insurance provider’s stock valued at $149,000 after acquiring an additional 1,971 shares during the period. Credit Suisse AG raised its stake in shares of MBIA by 4.5% in the fourth quarter. Credit Suisse AG now owns 90,044 shares of the insurance provider’s stock valued at $838,000 after acquiring an additional 3,857 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MBIA by 96.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,318 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 4,566 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of MBIA by 6.3% in the second quarter. Envestnet Asset Management Inc. now owns 106,923 shares of the insurance provider’s stock worth $775,000 after purchasing an additional 6,354 shares during the last quarter. 88.33% of the stock is currently owned by institutional investors.

About MBIA

MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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