Ambac Financial Group, Inc. (NYSE:AMBC) Short Interest Update

Ambac Financial Group, Inc. (NYSE:AMBC) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 2,740,000 shares, a growth of 15.1% from the May 31st total of 2,380,000 shares. Based on an average daily volume of 472,000 shares, the days-to-cover ratio is currently 5.8 days. Currently, 6.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMBC. StockNews.com upgraded Ambac Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Compass Point lifted their price target on shares of Ambac Financial Group from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th.

Ambac Financial Group Trading Up 0.2 %

Shares of AMBC opened at $12.82 on Monday. Ambac Financial Group has a fifty-two week low of $11.26 and a fifty-two week high of $18.45. The company has a market capitalization of $579.72 million, a PE ratio of 9.79 and a beta of 1.24. The stock has a fifty day moving average of $15.29 and a two-hundred day moving average of $15.57. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.71 and a current ratio of 0.71.

Ambac Financial Group (NYSE:AMBC) last released its earnings results on Monday, May 6th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.21 by $0.61. Ambac Financial Group had a return on equity of 10.69% and a net margin of 18.09%. The firm had revenue of $103.00 million during the quarter. During the same quarter in the previous year, the company posted ($0.30) earnings per share. As a group, analysts forecast that Ambac Financial Group will post 1.45 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AMBC. Gladius Capital Management LP raised its holdings in Ambac Financial Group by 71.3% in the third quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock valued at $30,000 after buying an additional 1,052 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Ambac Financial Group by 26.9% during the 3rd quarter. Federated Hermes Inc. now owns 6,171 shares of the company’s stock valued at $74,000 after acquiring an additional 1,309 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in Ambac Financial Group during the 3rd quarter worth $122,000. Victory Capital Management Inc. acquired a new stake in Ambac Financial Group in the 4th quarter valued at $165,000. Finally, Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 5,145 shares during the period. Institutional investors and hedge funds 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.