Ambac Financial Group, Inc. (NYSE:AMBC) Short Interest Up 13.6% in November

Ambac Financial Group, Inc. (NYSE:AMBC) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 4,420,000 shares, an increase of 13.6% from the October 31st total of 3,890,000 shares. Approximately 10.4% of the company’s shares are sold short. Based on an average daily volume of 556,200 shares, the short-interest ratio is presently 7.9 days.

Insiders Place Their Bets

In other news, Director Kristi Ann Matus bought 2,700 shares of the stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $11.27 per share, for a total transaction of $30,429.00. Following the completion of the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at $30,429. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Ambac Financial Group

A number of hedge funds have recently bought and sold shares of the stock. Quarry LP lifted its position in Ambac Financial Group by 830.7% in the second quarter. Quarry LP now owns 2,364 shares of the company’s stock worth $30,000 after purchasing an additional 2,110 shares during the period. Point72 DIFC Ltd bought a new position in shares of Ambac Financial Group during the 3rd quarter worth about $46,000. nVerses Capital LLC boosted its position 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 increased its stake in Ambac Financial Group by 20.0% in the second 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 during the period. Finally, Creative Planning acquired a new position in Ambac Financial Group in the third quarter worth about $156,000. 84.49% of the stock is owned by institutional investors.

Ambac Financial Group Stock Down 0.7 %

Shares of NYSE AMBC traded down $0.09 during trading hours on Tuesday, hitting $12.72. 295,926 shares of the company’s stock were exchanged, compared to its average volume of 665,188. The company’s 50-day moving average price is $11.73 and its 200-day moving average price is $12.40. 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 2.10, a current ratio of 0.58 and a quick ratio of 0.58.

Analyst Ratings Changes

A number of analysts have weighed in on AMBC shares. Roth Mkm raised Ambac Financial Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th. Roth Capital raised Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, StockNews.com lowered shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th.

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.