Ambac Financial Group, Inc. (AMBC) Stock Rating Reaffirmed by MKM Partners
Ambac Financial Group, Inc. (NASDAQ:AMBC)‘s stock had its “hold” rating reaffirmed by analysts at MKM Partners in a research note issued to investors on Thursday.
Separately, BTIG Research restated a “buy” rating and set a $26.00 price target on shares of Ambac Financial Group in a research report on Wednesday, June 21st.
Shares of Ambac Financial Group (AMBC) traded down 0.30% on Thursday, reaching $16.65. The company had a trading volume of 249,035 shares. The company’s 50-day moving average is $17.87 and its 200-day moving average is $18.10. The company’s market capitalization is $753.43 million. Ambac Financial Group has a one year low of $15.67 and a one year high of $27.25.
Ambac Financial Group (NASDAQ:AMBC) last announced its earnings results on Wednesday, August 9th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.32. Ambac Financial Group had a negative net margin of 16.39% and a positive return on equity of 5.74%. The company had revenue of $172.85 million during the quarter, compared to analyst estimates of $127.75 million. During the same period in the previous year, the business earned $2.54 earnings per share. The firm’s quarterly revenue was up 36.9% compared to the same quarter last year. Equities research analysts predict that Ambac Financial Group will post $1.63 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EJF Capital LLC boosted its position in Ambac Financial Group by 71.0% during the first quarter. EJF Capital LLC now owns 1,261,376 shares of the financial services provider’s stock valued at $23,790,000 after buying an additional 523,550 shares during the period. Evermore Global Advisors LLC boosted its position in Ambac Financial Group by 34.5% during the second quarter. Evermore Global Advisors LLC now owns 964,587 shares of the financial services provider’s stock valued at $16,736,000 after buying an additional 247,634 shares during the period. State Street Corp boosted its position in Ambac Financial Group by 3.4% during the second quarter. State Street Corp now owns 898,162 shares of the financial services provider’s stock valued at $15,583,000 after buying an additional 29,767 shares during the period. Sessa Capital IM L.P. boosted its position in Ambac Financial Group by 8.9% during the first quarter. Sessa Capital IM L.P. now owns 872,793 shares of the financial services provider’s stock valued at $16,461,000 after buying an additional 71,624 shares during the period. Finally, AQR Capital Management LLC boosted its position in Ambac Financial Group by 107.3% during the first quarter. AQR Capital Management LLC now owns 867,025 shares of the financial services provider’s stock valued at $16,352,000 after buying an additional 448,694 shares during the period. Institutional investors and hedge funds own 72.95% of the company’s stock.
About Ambac Financial Group
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.
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