MBIA, Inc. (NYSE:MBI)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $7.13 and last traded at $7.13, with a volume of 6,399,804 shares traded. The stock had previously closed at $7.50.

A number of equities analysts recently commented on the company. MKM Partners restated a “buy” rating and issued a $15.00 price objective on shares of MBIA in a report on Friday, August 11th. BTIG Research restated a “buy” rating and issued a $14.00 price objective on shares of MBIA in a report on Friday, July 14th. Finally, BidaskClub downgraded MBIA from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.

The stock’s market cap is $856.81 million. The company has a 50-day moving average price of $9.35 and a 200-day moving average price of $9.14.

MBIA (NYSE:MBI) last released its earnings results on Tuesday, August 8th. The insurance provider reported ($1.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($1.10). The business had revenue of $72.00 million during the quarter, compared to analysts’ expectations of $87.85 million. The business’s quarterly revenue was down 39.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 EPS. Analysts expect that MBIA, Inc. will post ($0.76) EPS for the current fiscal year.

MBIA announced that its Board of Directors has initiated a share repurchase program on Tuesday, June 27th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 21.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of MBIA by 0.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 12,484 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 99 shares in the last quarter. Financial Partners Capital Management LLC raised its stake in shares of MBIA by 12.4% during the 2nd 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 bought a new stake in shares of MBIA during the 2nd quarter worth approximately $116,000. Trexquant Investment LP bought a new stake in shares of MBIA during the 1st quarter worth approximately $125,000. Finally, Intl Fcstone Inc. bought a new stake in shares of MBIA during the 2nd quarter worth approximately $127,000. Institutional investors own 92.03% of the company’s stock.

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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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