Ambac Financial Group (NASDAQ:AMBC) had its price target reduced by analysts at MKM Partners to $15.00 in a note issued to investors on Wednesday, The Fly reports. The firm presently has a “neutral” rating on the financial services provider’s stock. MKM Partners’ price objective indicates a potential upside of 2.67% from the company’s current price.
A number of other brokerages have also commented on AMBC. BidaskClub raised Ambac Financial Group from a “strong sell” rating to a “sell” rating in a report on Wednesday. TheStreet lowered Ambac Financial Group from a “c” rating to a “d+” rating in a report on Tuesday, May 14th.
Shares of NASDAQ:AMBC traded down $0.26 during trading on Wednesday, hitting $14.61. 13,930 shares of the company were exchanged, compared to its average volume of 346,442. Ambac Financial Group has a fifty-two week low of $14.67 and a fifty-two week high of $23.34. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 5.20.
Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings results on Thursday, May 9th. The financial services provider reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.04). The company had revenue of $100.37 million for the quarter, compared to analyst estimates of $79.65 million. Ambac Financial Group had a negative return on equity of 2.12% and a negative net margin of 37.35%. During the same period last year, the firm earned $7.22 EPS.
In related news, CEO Claude Leblanc bought 13,500 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $16.81 per share, for a total transaction of $226,935.00. Following the transaction, the chief executive officer now owns 71,125 shares in the company, valued at approximately $1,195,611.25. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Robert Bryan Eisman bought 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $15.17 per share, with a total value of $30,340.00. Following the completion of the transaction, the chief accounting officer now owns 22,183 shares in the company, valued at approximately $336,516.11. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 29,330 shares of company stock worth $477,972. Insiders own 1.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AMBC. Fox Run Management bought a new stake in shares of Ambac Financial Group during the 4th quarter valued at $255,000. Russell Frank Co lifted its position in shares of Ambac Financial Group by 89.3% during the 4th quarter. Russell Frank Co now owns 230,730 shares of the financial services provider’s stock worth $3,286,000 after buying an additional 108,814 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Ambac Financial Group by 1.6% during the 4th quarter. California State Teachers Retirement System now owns 83,389 shares of the financial services provider’s stock worth $1,175,000 after buying an additional 1,295 shares during the last quarter. Numeric Investors LLC bought a new stake in shares of Ambac Financial Group during the 4th quarter worth $7,994,000. Finally, Oxford Asset Management bought a new stake in shares of Ambac Financial Group during the 4th quarter worth $3,712,000. Hedge funds and other institutional investors own 80.80% of the company’s stock.
About Ambac Financial Group
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to public and private sector clients in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; and credit derivative contracts and Interest rate derivative transactions.
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