Insider Selling: MBIA Inc. (NYSE:MBI) Director Sells 11,261 Shares of Stock

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 11,261 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $6.13, for a total value of $69,029.93. Following the completion of the sale, the director now owns 71,364 shares of the company’s stock, valued at approximately $437,461.32. This trade represents a 13.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

MBIA Stock Down 1.0 %

Shares of MBI opened at $6.83 on Friday. The stock’s fifty day simple moving average is $5.87 and its 200-day simple moving average is $4.76. The firm has a market capitalization of $348.53 million, a PE ratio of -0.60 and a beta of 1.61. MBIA Inc. has a 12-month low of $3.22 and a 12-month high of $7.16.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of MBIA by 279.1% during the third quarter. Barclays PLC now owns 58,406 shares of the insurance provider’s stock worth $209,000 after buying an additional 42,998 shares during the last quarter. TCW Group Inc. raised its position in shares of 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 last quarter. K2 Principal Fund L.P. bought a new stake in shares of MBIA during the 3rd quarter valued at $173,000. Jane Street Group LLC lifted its stake in shares of MBIA by 70.5% in the 3rd quarter. Jane Street Group LLC now owns 78,814 shares of the insurance provider’s stock valued at $281,000 after purchasing an additional 32,591 shares during the period. Finally, Whitebox Advisors LLC boosted its position in shares of MBIA by 6.3% in the 3rd quarter. Whitebox Advisors LLC now owns 844,431 shares of the insurance provider’s stock worth $3,015,000 after purchasing an additional 50,000 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of MBIA from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $6.50 to $9.00 in a research report on Monday, November 18th. StockNews.com raised shares of MBIA from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th.

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.