MBIA (NYSE:MBI) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Shares of MBIA Inc. (NYSE:MBI) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.27 and traded as low as $5.34. MBIA shares last traded at $5.37, with a volume of 173,743 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of MBIA from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th.

MBIA Price Performance

The stock has a market capitalization of $259.19 million, a PE ratio of -0.45 and a beta of 1.64. The company has a 50 day moving average price of $6.23 and a 200-day moving average price of $5.47.

MBIA (NYSE:MBI) last issued its quarterly earnings data on Thursday, February 27th. The insurance provider reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). The business had revenue of $29.00 million for the quarter, compared to analyst estimates of $28.70 million. As a group, equities analysts anticipate that MBIA Inc. will post -3.5 earnings per share for the current year.

Insider Activity at MBIA

In related news, Director Theodore Shasta sold 11,261 shares of MBIA stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $6.13, for a total transaction of $69,029.93. Following the sale, the director now directly owns 71,364 shares in the company, valued at $437,461.32. The trade was a 13.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MBIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBI. TCW Group Inc. lifted its position in MBIA by 76.3% during the 3rd quarter. TCW Group Inc. now owns 460,800 shares of the insurance provider’s stock valued at $1,645,000 after acquiring an additional 199,500 shares during the period. Barclays PLC lifted its holdings in shares of MBIA by 279.1% during the third quarter. Barclays PLC now owns 58,406 shares of the insurance provider’s stock valued at $209,000 after purchasing an additional 42,998 shares during the last quarter. Freestone Capital Holdings LLC bought a new stake in shares of MBIA in the 4th quarter worth approximately $1,159,000. BNP Paribas Financial Markets grew 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 worth $35,000 after buying an additional 2,090 shares during the last quarter. Finally, State Street Corp increased its position in MBIA by 3.6% during the 3rd quarter. State Street Corp now owns 1,015,523 shares of the insurance provider’s stock valued at $3,625,000 after buying an additional 35,104 shares in 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.