Analysts Set MBIA Inc. (MBI) Target Price at $14.00

Shares of MBIA Inc. (NYSE:MBI) have received an average rating of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $14.00.

A number of equities research analysts recently issued reports on the company. ValuEngine lowered MBIA from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods assumed coverage on MBIA in a research note on Monday. They set a “market perform” rating for the company.

Shares of MBIA (NYSE MBI) traded up $0.13 during trading on Monday, hitting $7.16. The stock had a trading volume of 184,102 shares, compared to its average volume of 1,316,535. MBIA has a 12-month low of $6.04 and a 12-month high of $10.89. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.09 and a quick ratio of 2.09.

MBIA (NYSE:MBI) last issued its quarterly earnings results on Tuesday, November 7th. The insurance provider reported ($0.91) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 period in the prior year, the company earned $0.23 earnings per share. The business’s revenue was down 83.7% compared to the same quarter last year.

MBIA declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 7th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other MBIA news, Director Joseph W. Brown bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were purchased at an average cost of $7.25 per share, for a total transaction of $362,500.00. Following the purchase, the director now directly owns 2,399,634 shares in the company, valued at $17,397,346.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.11% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP purchased a new stake in MBIA during the 3rd quarter valued at about $444,000. Trellus Management Company LLC acquired a new position in MBIA in the 3rd quarter worth about $740,000. Fine Capital Partners L.P. raised its holdings in MBIA by 88.9% in the 3rd quarter. Fine Capital Partners L.P. now owns 8,726,432 shares of the insurance provider’s stock worth $75,920,000 after purchasing an additional 4,105,792 shares during the period. GSA Capital Partners LLP raised its holdings in MBIA by 273.6% in the 3rd quarter. GSA Capital Partners LLP now owns 162,590 shares of the insurance provider’s stock worth $1,415,000 after purchasing an additional 119,075 shares during the period. Finally, Nationwide Fund Advisors raised its holdings in MBIA by 60.4% in the 3rd quarter. Nationwide Fund Advisors now owns 145,951 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 54,973 shares during the period.

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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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