ValuEngine upgraded shares of MBIA, Inc. (NYSE:MBI) from a hold rating to a buy rating in a report released on Thursday.
Other research analysts have also recently issued reports about the company. BTIG Research reiterated a buy rating and issued a $14.00 price objective on shares of MBIA in a report on Wednesday, September 6th. MKM Partners reiterated a buy rating and issued a $15.00 price objective on shares of MBIA in a report on Friday, August 11th. Finally, BidaskClub cut MBIA from a hold rating to a sell rating in a report on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. MBIA currently has an average rating of Buy and an average price target of $14.50.
MBIA (NYSE MBI) traded up $0.06 on Thursday, reaching $8.90. The company had a trading volume of 3,505,100 shares, compared to its average volume of 6,538,224. MBIA has a 12-month low of $6.04 and a 12-month high of $11.65. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.37 and a current ratio of 2.09.
MBIA (NYSE:MBI) last released its quarterly earnings data on Tuesday, November 7th. The insurance provider reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($1.01). The company had revenue of $33.00 million during the quarter, compared to analysts’ expectations of $85.85 million. During the same quarter in the previous year, the company earned $0.23 EPS. The business’s revenue was down 83.7% compared to the same quarter last year.
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MBIA declared that its board has approved a share repurchase program on Tuesday, November 7th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the insurance provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
Large investors have recently added to or reduced their stakes in the business. Financial Partners Capital Management LLC lifted its stake in MBIA by 12.4% during the second quarter. Financial Partners Capital Management LLC now owns 11,294 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 1,250 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in MBIA during the second quarter worth $116,000. Nine Chapters Capital Management LLC acquired a new position in MBIA during the third quarter worth $111,000. Intl Fcstone Inc. acquired a new position in MBIA during the second quarter worth $127,000. Finally, Prudential Financial Inc. lifted its stake in MBIA by 2.7% during the second quarter. Prudential Financial Inc. now owns 14,415 shares of the insurance provider’s stock worth $136,000 after purchasing an additional 380 shares in the last quarter. Institutional investors own 92.07% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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