Ambac Financial Group (NYSE:AMBC) Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Ambac Financial Group (NYSE:AMBC) from a hold rating to a sell rating in a research note published on Thursday morning.

Separately, Compass Point increased their price target on shares of Ambac Financial Group from $18.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, May 8th.

Ambac Financial Group Price Performance

AMBC stock traded up $0.60 on Thursday, reaching $11.18. The company had a trading volume of 1,206,187 shares, compared to its average volume of 442,114. The company has a market cap of $505.62 million, a P/E ratio of 8.48 and a beta of 1.24. The company’s fifty day moving average is $12.81 and its 200 day moving average is $14.83. Ambac Financial Group has a 1 year low of $10.12 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.71 and a current ratio of 0.71.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $105.00 million for the quarter. Ambac Financial Group had a net margin of 18.09% and a return on equity of 10.69%. During the same quarter last year, the firm earned $0.07 earnings per share. On average, research analysts forecast that Ambac Financial Group will post 1.45 earnings per share for the current year.

Insider Activity

In other Ambac Financial Group news, CFO David Trick purchased 3,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $10.76 per share, with a total value of $39,812.00. Following the transaction, the chief financial officer now owns 156,082 shares in the company, valued at $1,679,442.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ambac Financial Group news, General Counsel Stephen Michael Ksenak purchased 5,000 shares of Ambac Financial Group stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $11.00 per share, with a total value of $55,000.00. Following the completion of the acquisition, the general counsel now owns 116,609 shares of the company’s stock, valued at approximately $1,282,699. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Trick acquired 3,700 shares of the stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $10.76 per share, with a total value of $39,812.00. Following the purchase, the chief financial officer now owns 156,082 shares in the company, valued at $1,679,442.32. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 34,800 shares of company stock valued at $377,016. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Ambac Financial Group

Institutional investors have recently modified their holdings of the stock. Texas Permanent School Fund Corp increased its holdings in Ambac Financial Group by 2.0% in the first quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock valued at $618,000 after buying an additional 770 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Ambac Financial Group by 3.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 26,645 shares of the company’s stock valued at $439,000 after acquiring an additional 905 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ambac Financial Group by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock valued at $126,000 after acquiring an additional 1,637 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Ambac Financial Group by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,405 shares of the company’s stock worth $601,000 after purchasing an additional 1,861 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Ambac Financial Group by 27.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,040 shares of the company’s stock worth $248,000 after purchasing an additional 3,410 shares during the period. Institutional investors and hedge funds own 84.49% of the company’s stock.

About Ambac Financial Group

Ambac Financial Group, Inc operates as a financial services holding company. It operates three businesses: Specialty Property and Casualty Insurance, Insurance Distribution, and Legacy Financial Guarantee (LFG) Insurance. The Specialty Property and Casualty Insurance business provides specialty property and casualty program insurance with a focus commercial and personal liability risks.