MBIA (NYSE:MBI) Price Target Lowered to $7.00 at Roth Mkm
MBIA (NYSE:MBI – Get Free Report) had its target price decreased by investment analysts at Roth Mkm from $15.00 to $7.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. Roth Mkm’s price target would indicate a potential downside of 47.01% from the stock’s current price.
Several other equities analysts have also commented on the company. Roth Capital lowered MBIA from a “buy” rating to a “neutral” rating in a report on Friday, December 8th. Keefe, Bruyette & Woods decreased their price objective on shares of MBIA from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Friday, November 17th. Finally, StockNews.com upgraded shares of MBIA to a “sell” rating in a research note on Friday, December 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, MBIA presently has an average rating of “Hold” and an average target price of $10.00.
View Our Latest Stock Analysis on MBI
MBIA Stock Performance
Shares of MBIA stock traded up $0.09 during trading hours on Tuesday, reaching $13.21. 402,696 shares of the company were exchanged, compared to its average volume of 497,321. MBIA has a 1 year low of $6.07 and a 1 year high of $14.37. The stock’s fifty day moving average is $7.85 and its 200 day moving average is $8.13. The firm has a market cap of $675.56 million, a PE ratio of -1.58 and a beta of 1.23.
MBIA (NYSE:MBI – Get Free Report) last posted its earnings results on Thursday, November 2nd. The insurance provider reported ($2.92) EPS for the quarter, missing the consensus estimate of ($0.05) by ($2.87). The company had revenue of $36.00 million during the quarter, compared to analysts’ expectations of $29.00 million. Research analysts expect that MBIA will post -3.35 earnings per share for the current year.
Institutional Investors Weigh In On MBIA
Hedge funds have recently added to or reduced their stakes in the company. Point72 Middle East FZE acquired a new stake in MBIA in the fourth quarter valued at about $34,000. Great West Life Assurance Co. Can lifted its position in MBIA by 105.8% in the first quarter. Great West Life Assurance Co. Can now owns 2,782 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 1,430 shares during the period. State of Wyoming acquired a new stake in MBIA in the fourth quarter valued at about $37,000. Federated Hermes Inc. purchased a new position in MBIA in the first quarter valued at about $34,000. Finally, Tower Research Capital LLC TRC increased its holdings in MBIA by 24.8% in the third quarter. Tower Research Capital LLC TRC now owns 4,914 shares of the insurance provider’s stock valued at $46,000 after buying an additional 976 shares in the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.
About MBIA (Get Free Report)
MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through United States (U.S.) Public Finance Insurance, Corporate, 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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Original: MarketBeat News Feed: MBIA (NYSE:MBI) Price Target Lowered to $7.00 at Roth Mkm