BTIG Research Initiates Coverage on MBIA (NYSE:MBI)

Stock analysts at BTIG Research assumed coverage on shares of MBIA (NYSE:MBI) in a research note issued on Friday, TipRanks reports. The brokerage set a “buy” rating and a $14.00 price target on the insurance provider’s stock. BTIG Research’s price target suggests a potential upside of 50.62% from the stock’s previous close.

Separately, TheStreet cut shares of MBIA from a “c-” rating to a “d+” rating in a research note on Wednesday, July 31st.

Shares of MBI stock traded up $0.21 during mid-day trading on Friday, hitting $9.30. The stock had a trading volume of 642,264 shares, compared to its average volume of 669,768. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 2.76. MBIA has a fifty-two week low of $7.95 and a fifty-two week high of $11.62. The company has a 50-day simple moving average of $9.37. The firm has a market cap of $845.89 million, a price-to-earnings ratio of 13.03 and a beta of 1.30.

MBIA (NYSE:MBI) last announced its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $0.45 EPS for the quarter. The company had revenue of $50.00 million during the quarter.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kahn Brothers Group Inc. DE raised its position in MBIA by 27.2% during the second quarter. Kahn Brothers Group Inc. DE now owns 5,614,736 shares of the insurance provider’s stock worth $52,273,000 after acquiring an additional 1,202,254 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of MBIA by 140.7% during the first quarter. Thompson Siegel & Walmsley LLC now owns 1,097,237 shares of the insurance provider’s stock worth $10,446,000 after buying an additional 641,382 shares in the last quarter. Starr International Co. Inc. purchased a new stake in shares of MBIA during the first quarter worth about $1,439,000. Norges Bank purchased a new stake in shares of MBIA during the fourth quarter worth about $551,000. Finally, Geode Capital Management LLC grew its holdings in shares of MBIA by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 962,562 shares of the insurance provider’s stock worth $8,586,000 after buying an additional 52,200 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

About MBIA

MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through 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.

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