MBIA Inc. (NYSE:MBI) Director Sells $59,310.00 in Stock

MBIA Inc. (NYSE:MBI) 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 transaction, the director now directly owns 65,635 shares in the company, valued at approximately $432,534.65. This trade represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

MBIA Stock Up 6.8 %

Shares of MBI stock opened at $7.03 on Friday. The firm has a market cap of $358.74 million, a price-to-earnings ratio of -0.62 and a beta of 1.41. The company’s 50 day moving average is $4.20 and its 200 day moving average is $4.61. MBIA Inc. has a 52-week low of $3.22 and a 52-week high of $14.37.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Roth Mkm reduced their target price on shares of MBIA from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods raised shares of MBIA from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $6.50 to $9.00 in a report on Monday, November 18th.

Hedge Funds Weigh In On MBIA

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in 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 period. Seelaus Asset Management LLC acquired a new stake in MBIA in the third quarter valued at approximately $45,000. Quantbot Technologies LP boosted its stake 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 acquiring an additional 11,784 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in MBIA in the second quarter valued at approximately $83,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in MBIA by 34.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 21,065 shares of the insurance provider’s stock valued at $116,000 after acquiring an additional 5,351 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other 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.