MBIA Inc. (NYSE:MBI) Sees Large Decline in Short Interest

MBIA Inc. (NYSE:MBI) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,710,000 shares, a decline of 19.0% from the November 15th total of 2,110,000 shares. Based on an average daily volume of 477,500 shares, the days-to-cover ratio is presently 3.6 days. Currently, 3.9% of the company’s shares are sold short.

Analyst Ratings Changes

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

MBIA Trading Down 2.1 %

Shares of MBI traded down $0.13 during trading hours on Friday, reaching $6.10. 147,338 shares of the company traded hands, compared to its average volume of 488,985. The stock’s fifty day moving average price is $5.11 and its 200 day moving average price is $4.69. The firm has a market cap of $311.28 million, a price-to-earnings ratio of -0.54 and a beta of 1.61. MBIA has a 12-month low of $3.22 and a 12-month high of $14.37.

Insider Activity at MBIA

In other MBIA news, Director Richard C. Vaughan sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $6.59, for a total value of $59,310.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed 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

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings 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 period. Seelaus Asset Management LLC purchased a new stake in MBIA in the third quarter worth about $45,000. Quantbot Technologies LP lifted 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 worth $51,000 after acquiring an additional 11,784 shares during the period. Sanctuary Advisors LLC bought a new position in MBIA during the 2nd quarter worth about $83,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in MBIA by 34.1% during the 2nd 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 during the period. 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.