BTIG Research reiterated their buy rating on shares of MBIA (NYSE:MBI) in a research note issued to investors on Tuesday morning, reports. The brokerage currently has a $14.00 price objective on the insurance provider’s stock.

“We believe this removes one of the largest outstanding unknown outcomes related to National’s exposure to Puerto Rico by entering into an agreement to settle the largest remaining exposure that accounted for 40.6% of remaining principal and interest exposure related to unsettled exposures at 2Q19.”,” the firm’s analyst commented.

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

NYSE MBI traded down $0.01 during trading hours on Tuesday, hitting $9.88. 15,910 shares of the stock were exchanged, compared to its average volume of 705,909. The company has a market cap of $839.94 million, a price-to-earnings ratio of 24.77 and a beta of 1.29. MBIA has a 12-month low of $7.95 and a 12-month high of $11.53. The stock has a 50-day moving average of $9.22 and a 200 day moving average of $9.48. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.13.

MBIA (NYSE:MBI) last posted its quarterly earnings results on Tuesday, August 6th. The insurance provider reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.76). The company had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $51.43 million. During the same period in the prior year, the company earned ($0.58) earnings per share.

In related news, Director Theodore Shasta sold 29,809 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $9.12, for a total transaction of $271,858.08. Following the completion of the transaction, the director now directly owns 93,532 shares of the company’s stock, valued at $853,011.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.83% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Atria Investments LLC purchased a new position in MBIA in the second quarter valued at about $221,000. Dynamic Technology Lab Private Ltd purchased a new position in MBIA in the first quarter valued at about $450,000. Kahn Brothers Group Inc. DE increased its holdings in MBIA by 27.2% in the second quarter. Kahn Brothers Group Inc. DE now owns 5,614,736 shares of the insurance provider’s stock valued at $52,273,000 after buying an additional 1,202,254 shares in the last quarter. Trexquant Investment LP increased its holdings in MBIA by 112.3% in the second quarter. Trexquant Investment LP now owns 28,008 shares of the insurance provider’s stock valued at $261,000 after buying an additional 14,818 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in MBIA by 140.7% in the first quarter. Thompson Siegel & Walmsley LLC now owns 1,097,237 shares of the insurance provider’s stock valued at $10,446,000 after buying an additional 641,382 shares in the last quarter. 89.75% of the stock is owned by institutional investors.

MBIA Company Profile

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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