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

Ambac Financial Group (NYSE:AMBC) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Separately, Compass Point raised their price objective on Ambac Financial Group from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th.

Ambac Financial Group Stock Up 5.7 %

Shares of Ambac Financial Group stock traded up $0.60 during trading on Thursday, reaching $11.18. The stock had a trading volume of 1,206,187 shares, compared to its average volume of 442,114. The company has a market capitalization of $505.62 million, a price-to-earnings ratio of 8.53 and a beta of 1.24. The stock has a fifty day moving average price of $12.68 and a two-hundred day moving average price of $14.79. Ambac Financial Group has a 52 week low of $10.12 and a 52 week high of $18.45. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.42.

Ambac Financial Group (NYSE:AMBC) last released its quarterly earnings data on Monday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Ambac Financial Group had a net margin of 18.09% and a return on equity of 10.69%. The business had revenue of $105.00 million during the quarter. During the same period last year, the firm posted $0.07 earnings per share. Sell-side analysts predict that Ambac Financial Group will post 1.45 EPS for the current fiscal year.

Insider Transactions at Ambac Financial Group

In other Ambac Financial Group news, General Counsel Stephen Michael Ksenak purchased 5,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $11.00 per share, with a total value of $55,000.00. Following the transaction, the general counsel now directly owns 116,609 shares of the company’s stock, valued at approximately $1,282,699. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jeffrey Scott Stein acquired 25,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $10.82 per share, for a total transaction of $270,500.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $378,700. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Stephen Michael Ksenak bought 5,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $11.00 per share, with a total value of $55,000.00. Following the transaction, the general counsel now directly owns 116,609 shares of the company’s stock, valued at $1,282,699. The disclosure for this purchase can be found here. In the last three months, insiders bought 34,800 shares of company stock worth $377,016. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Ambac Financial Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC increased its position in shares of Ambac Financial Group by 525.0% during the second quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock worth $64,000 after purchasing an additional 4,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 purchasing an additional 1,637 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Ambac Financial Group by 95.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock valued at $165,000 after acquiring an additional 5,145 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Ambac Financial Group in the fourth quarter valued at approximately $165,000. Finally, Cornerstone Investment Partners LLC acquired a new position in Ambac Financial Group during the fourth quarter worth $178,000. Institutional investors 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.