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MBIA Inc. Reports Full Year and Fourth Quarter 2023 Financial Results
Business Wire (Wed, 28-Feb 4:15 PM ET)
MBIA Inc provides financial guaranty insurance for municipal bonds and asset-backed securities in the United States and internationally. It offers an unconditional guarantee to repay the principal and interest on these securities if the issuer defaults. MBIA insures bonds sold in the primary and secondary markets, as well as those held in unit investment trusts and by mutual funds. It operates in three segments: the United States public finance insurance, corporate, and international & structured finance insurance. U.S. public finance insurance portfolio is managed through National Public Finance Guarantee Corporation. International & structured finance insurance business is managed through MBIA Insurance Corporation and its subsidiary.
Mbia trades on the NYSE stock market under the symbol MBI.
As of March 28, 2024, MBI stock price was flat at $6.76 with 375,164 million shares trading.
MBI has a beta of 0.67, meaning it tends to be less sensitive to market movements. MBI has a correlation of 0.01 to the broad based SPY ETF.
MBI has a market cap of $346.63 million. This is considered a Small Cap stock.
Last quarter Mbia reported $9 million in Revenue and -$.16 earnings per share. This beat revenue expectation by $3 million and exceeded earnings estimates by $.01.
In the last 3 years, MBI stock traded as high as $17.90 and as low as $5.21.
The top ETF exchange traded funds that MBI belongs to (by Net Assets): VTI, IWM, VXF, IWN, SCHA.
MBI has outperformed the market in the last year with a return of +70.6%, while the SPY ETF gained +33.6%. In the last 3 month period, MBI beat the market returning +10.5%, while SPY returned +10.1%. However, in the most recent 2 weeks MBI has underperformed the stock market by returning +1.0%, while SPY returned +1.7%.
MBI support price is $6.57 and resistance is $6.95 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MBI stock will trade within this expected range on the day.