MBIA (MBI) Stock Price Up 9.8%

MBIA Inc. (NYSE:MBI) rose 9.8% during trading on Wednesday . The stock traded as high as $8.63 and last traded at $8.41. Approximately 5,273,010 shares traded hands during mid-day trading, an increase of 245% from the average daily volume of 1,529,942 shares. The stock had previously closed at $7.66.

MBI has been the topic of several research reports. ValuEngine upgraded MBIA from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods assumed coverage on MBIA in a research note on Monday, February 5th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $14.50.

The stock has a market cap of $671.98, a PE ratio of -0.58 and a beta of 2.36. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.09 and a quick ratio of 2.09.

MBIA declared that its board has authorized a stock buyback program on Tuesday, November 7th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

In related news, Director Joseph W. Brown purchased 50,000 shares of the stock in a transaction on Tuesday, December 19th. The shares were purchased at an average price of $7.25 per share, with a total value of $362,500.00. Following the transaction, the director now directly owns 2,399,634 shares of the company’s stock, valued at $17,397,346.50. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 4.11% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. First Trust Advisors LP acquired a new position in shares of MBIA during the 3rd quarter worth approximately $444,000. Trellus Management Company LLC acquired a new position in shares of MBIA during the 3rd quarter worth approximately $740,000. Fine Capital Partners L.P. increased its position in shares of MBIA by 88.9% during the 3rd quarter. Fine Capital Partners L.P. now owns 8,726,432 shares of the insurance provider’s stock worth $75,920,000 after purchasing an additional 4,105,792 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of MBIA by 273.6% during the 3rd quarter. GSA Capital Partners LLP now owns 162,590 shares of the insurance provider’s stock worth $1,415,000 after purchasing an additional 119,075 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of MBIA by 60.4% during the 3rd quarter. Nationwide Fund Advisors now owns 145,951 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 54,973 shares during the last quarter.

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MBIA Company Profile

MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.

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