Insider Selling: MBIA Inc. (NYSE:MBI) Director Sells 9,570 Shares of Stock

MBIA Inc. (NYSE:MBI) Director Theodore Shasta sold 9,570 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $6.74, for a total value of $64,501.80. Following the sale, the director now directly owns 61,794 shares of the company’s stock, valued at approximately $416,491.56. This trade represents a 13.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Theodore Shasta also recently made the following trade(s):

• On Monday, December 30th, Theodore Shasta sold 11,261 shares of MBIA stock. The stock was sold at an average price of $6.13, for a total value of $69,029.93.

MBIA Stock Performance

MBI stock opened at $6.13 on Thursday. The firm has a market cap of $312.81 million, a P/E ratio of -0.54 and a beta of 1.62. MBIA Inc. has a 1 year low of $3.22 and a 1 year high of $7.16. The stock has a 50-day simple moving average of $6.04 and a 200-day simple moving average of $4.78.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MBI. StockNews.com lowered shares of MBIA from a “hold” rating to a “sell” rating in a report on Wednesday. Keefe, Bruyette & Woods upgraded shares of MBIA from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $6.50 to $9.00 in a report on Monday, November 18th.

Institutional Trading of MBIA

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of MBIA by 26.6% during the third quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 2,090 shares in the last quarter. Seelaus Asset Management LLC purchased a new stake in MBIA during the 3rd quarter worth $45,000. Quantbot Technologies LP lifted its holdings in MBIA by 476.5% in the 3rd quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock worth $51,000 after buying an additional 11,784 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in MBIA in the 2nd quarter valued at about $83,000. Finally, K2 Principal Fund L.P. purchased a new position in MBIA in the 3rd quarter valued at about $173,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.