Ambac Financial Group Sees Unusually Large Options Volume (NYSE:AMBC)

Ambac Financial Group, Inc. (NYSE:AMBC) saw unusually large options trading activity on Tuesday. Investors bought 10,397 call options on the stock. This represents an increase of approximately 93% compared to the average volume of 5,374 call options.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMBC shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ambac Financial Group in a research report on Tuesday. Truist Financial boosted their target price on Ambac Financial Group from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Insider Buying and Selling at Ambac Financial Group

In other Ambac Financial Group news, CEO Claude Leblanc acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was purchased at an average cost of $8.54 per share, for a total transaction of $213,500.00. Following the completion of the acquisition, the chief executive officer owned 1,021,777 shares of the company’s stock, valued at approximately $8,725,975.58. This trade represents a 2.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Ambac Financial Group

Several large investors have recently added to or reduced their stakes in AMBC. CWM LLC lifted its position in shares of Ambac Financial Group by 65,933.3% in the 2nd quarter. CWM LLC now owns 3,962 shares of the company’s stock worth $28,000 after acquiring an additional 3,956 shares during the period. Federated Hermes Inc. acquired a new position in shares of Ambac Financial Group in the second quarter valued at $37,000. LM Asset IM Inc. bought a new position in Ambac Financial Group in the second quarter worth $43,000. AlphaQuest LLC acquired a new stake in Ambac Financial Group during the first quarter worth $61,000. Finally, Cerity Partners LLC bought a new stake in Ambac Financial Group in the 2nd quarter valued at $84,000. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Stock Down 1.9%

AMBC opened at $9.89 on Thursday. The stock’s 50 day moving average price is $8.74 and its two-hundred day moving average price is $8.16. The firm has a market capitalization of $458.96 million, a P/E ratio of -0.73 and a beta of 0.96. Ambac Financial Group has a 12-month low of $5.99 and a 12-month high of $13.64.

Ambac Financial Group (NYSE:AMBC) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02. The company had revenue of $66.61 million during the quarter, compared to analysts’ expectations of $56.77 million. Ambac Financial Group had a negative return on equity of 3.50% and a negative net margin of 215.40%. As a group, analysts anticipate that Ambac Financial Group will post 0.6 earnings per share for the current year.

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.