MBIA (NYSE:MBI) Earning Somewhat Favorable Press Coverage, Study Finds

News articles about MBIA (NYSE:MBI) have been trending somewhat positive this week, Accern reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. MBIA earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned media stories about the insurance provider an impact score of 44.87568045297 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

These are some of the headlines that may have impacted Accern’s rankings:

MBIA (NYSE:MBI) opened at 10.14 on Friday. The firm’s market capitalization is $1.28 billion. MBIA has a 12-month low of $7.14 and a 12-month high of $11.65. The stock has a 50 day moving average price of $10.11 and a 200-day moving average price of $9.25.

MBIA (NYSE:MBI) last issued its earnings results on Tuesday, August 8th. The insurance provider reported ($1.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $1.10. The firm had revenue of $72 million for the quarter, compared to the consensus estimate of $87.85 million. The business’s revenue for the quarter was down 39.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 earnings per share. On average, equities research analysts forecast that MBIA will post ($0.76) EPS for the current year.

MBIA declared that its board has authorized a stock buyback plan on Tuesday, June 27th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 21.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Several brokerages have weighed in on MBI. BTIG Research reiterated a “buy” rating and issued a $14.00 target price on shares of MBIA in a research note on Tuesday, June 27th. BidaskClub upgraded MBIA from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Finally, MKM Partners reiterated a “buy” rating and set a $15.00 target price on shares of MBIA in a research report on Friday, August 11th.

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In related news, Director Steven J. Gilbert bought 50,000 shares of the business’s stock in a transaction on Monday, June 19th. The shares were purchased at an average price of $8.96 per share, for a total transaction of $448,000.00. Following the completion of the transaction, the director now directly owns 132,073 shares of the company’s stock, valued at approximately $1,183,374.08. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles R. Rinehart bought 40,000 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was bought at an average price of $9.25 per share, for a total transaction of $370,000.00. Following the transaction, the director now directly owns 212,592 shares of the company’s stock, valued at $1,966,476. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 177,033 shares of company stock worth $1,589,112. Insiders own 4.11% of the company’s stock.

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.

Insider Buying and Selling by Quarter for MBIA (NYSE:MBI)

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