MBIA, Inc. (NYSE:MBI)’s share price was down 8.4% during trading on Wednesday . The company traded as low as $7.65 and last traded at $7.95. Approximately 20,074,351 shares changed hands during trading, an increase of 834% from the average daily volume of 2,148,890 shares. The stock had previously closed at $8.68.

A number of equities analysts recently commented on MBI shares. BidaskClub upgraded MBIA from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. BTIG Research restated a “buy” rating and set a $14.00 target price on shares of MBIA in a report on Friday, July 14th. Finally, MKM Partners restated a “buy” rating and set a $15.00 target price on shares of MBIA in a report on Friday, August 11th.

The stock’s market capitalization is $1.00 billion. The company’s 50-day moving average price is $9.83 and its 200 day moving average price is $9.18.

MBIA (NYSE:MBI) last announced its quarterly 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 the consensus estimate of $87.85 million. MBIA’s revenue was down 39.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 EPS. On average, equities analysts anticipate that MBIA, Inc. will post ($0.76) earnings per share for the current fiscal year.

MBIA announced that its Board of Directors has approved a stock buyback program on Tuesday, June 27th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the insurance provider to repurchase up to 21.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of large investors have recently made changes to their positions in MBI. First Trust Advisors LP increased its stake in MBIA by 104.9% during the first quarter. First Trust Advisors LP now owns 229,277 shares of the insurance provider’s stock worth $1,942,000 after acquiring an additional 117,365 shares during the last quarter. Bank of New York Mellon Corp increased its stake in MBIA by 11.6% during the first quarter. Bank of New York Mellon Corp now owns 743,501 shares of the insurance provider’s stock worth $6,297,000 after acquiring an additional 77,366 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in MBIA by 20.4% during the first quarter. UBS Asset Management Americas Inc. now owns 105,775 shares of the insurance provider’s stock worth $896,000 after acquiring an additional 17,886 shares during the last quarter. Karp Capital Management Corp acquired a new stake in MBIA during the first quarter worth about $189,000. Finally, Parametric Portfolio Associates LLC increased its stake in MBIA by 24.3% during the first quarter. Parametric Portfolio Associates LLC now owns 714,510 shares of the insurance provider’s stock worth $6,052,000 after acquiring an additional 139,455 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

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About MBIA

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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