Short Interest in Ambac Financial Group, Inc. (NYSE:AMBC) Increases By 8.1%

Ambac Financial Group, Inc. (NYSE:AMBC) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 3,890,000 shares, an increase of 8.1% from the October 15th total of 3,600,000 shares. Approximately 9.2% of the company’s stock are sold short. Based on an average daily volume of 476,700 shares, the days-to-cover ratio is currently 8.2 days.

Ambac Financial Group Stock Performance

Ambac Financial Group stock opened at $12.44 on Tuesday. The stock’s fifty day moving average price is $11.43 and its two-hundred day moving average price is $12.74. Ambac Financial Group has a one year low of $10.12 and a one year high of $18.45. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.58 and a current ratio of 0.58.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMBC. Roth Mkm raised Ambac Financial Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.00 to $15.00 in a research report on Wednesday, September 18th. StockNews.com cut Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, Roth Capital raised Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th.

Insider Transactions at Ambac Financial Group

In other news, Director Kristi Ann Matus acquired 2,700 shares of the stock in a transaction dated Thursday, September 26th. The shares were bought at an average cost of $11.27 per share, for a total transaction of $30,429.00. Following the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $30,429. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ambac Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of AMBC. Quarry LP increased its stake in shares of Ambac Financial Group by 830.7% in the 2nd quarter. Quarry LP now owns 2,364 shares of the company’s stock valued at $30,000 after purchasing an additional 2,110 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Ambac Financial Group during the 3rd quarter valued at $46,000. nVerses Capital LLC boosted its holdings in shares of Ambac Financial Group by 525.0% during the 2nd quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock valued at $64,000 after acquiring an additional 4,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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. Finally, Creative Planning acquired a new stake in shares of Ambac Financial Group during the 3rd quarter valued at $156,000. Institutional investors own 84.49% of the company’s stock.

Ambac Financial Group Company Profile

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.