Bank of America Corp DE Cuts Position in MBIA, Inc. (NYSE:MBI)


Envestnet Asset Management Inc. now owns 12,484 shares of the insurance provider's stock worth $106,000 after buying an additional 99 shares in the last quarter.

Beta is also an important valuation ratio for analyzing the stock of the company, MBI has Beta of 2.44 while its industry and Sector's beta remains at 1.17 and 1.47 respectively. Vanguard Inc reported 9.93 million shares stake. Tiaa Cref Investment Management LLC reduced its ownership by selling 11,067 shares a decrease of 3.1% in the quarter. The Stock becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. First Midwest Bank Trust Division increased its position in shares of MBIA by 2.1% in the first quarter. Royce & Associates LP now owns 4,006,053 shares of the insurance provider's stock worth $33,931,000 after buying an additional 160,000 shares during the period. The value of the position overall is up by 18.9%. Teachers Advisors, LLC owns 229,678 shares with a value of $2,166,000.

Alliancebernstein L.P. bolstered its stake by buying 4,700 shares an increase of 2.1% as of 06/30/2017.

Additionally on 4/25/16 Keefe Bruyette & Woods "Initiates Coverage on" MBIA Inc (NYSE:MBI) to Market Perform setting price target at $8.5 and on 11/03/15 MKM Partners "Upgrades" the stock to Buy. (NYSE:MBI) is down -0.87%, compared with a gain of almost 26.87% for 3 months and about 6.58% for the past 30 days. The company is expected to report EPS as high as $0.11 and as low as $0.02 per share. For the current year the company's revenue estimates are $202.3 Million compared to low analyst estimates of $202.3 Million and high estimates of $202.3 Million according to the prediction of 1 analysts. The company has market cap of $1.32 billion.

Last time, the company shocked Wall Street by reporting EPS of $-1.11, smashing the consensus of $-1.40 per share. Current price places the company's stock 7.77% away from its 200-day simple moving average, 8.5%, away from the 50-day average and also 0.24% away from 20-day average. During the same quarter previous year, the firm posted $0.12 EPS. Equities analysts predict that MBIA, Inc. will post ($1.18) EPS for the current year.

The Purchase, New York-based company said it had a loss of $9.78 per share. This repurchase authorization allows the insurance provider to reacquire up to 21.7% of its stock through open market purchases. Over the last three months, insiders bought 177,033 shares of company stock valued at $1,589,112. If you are accessing this news story on another site, it was illegally copied and reposted in violation of global trademark & copyright legislation. The legal version of this piece can be accessed at

Several brokerages recently issued reports on MBI. Finally, BTIG Research reiterated a "buy" rating and issued a $14.00 price objective on shares of MBIA in a report on Thursday, May 25th. Finally, BidaskClub cut MBIA from a "hold" rating to a "sell" rating in a report on Saturday, August 5th. The shares were purchased at an average cost of $9.25 per share, for a total transaction of $370,000.00. The number of shares now owned by investors are 131.66 mln. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

In other MBIA news, Director Steven J. Gilbert bought 50,000 shares of MBIA stock in a transaction on Monday, June 19th. The stock's average target of $11.50 is 12.75% above today's ($10.2) share price. Following the purchase, the director now owns 212,592 shares of the company's stock, valued at $1,966,476. The disclosure for this purchase can be found here.

The company surged 1.76% and closed its last trading session at $10.2.