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

StockNews.com downgraded shares of Ambac Financial Group (NYSE:AMBC) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Ambac Financial Group Price Performance

Shares of NYSE AMBC opened at $14.59 on Friday. Ambac Financial Group has a fifty-two week low of $11.26 and a fifty-two week high of $17.80. The business has a 50 day moving average price of $15.31 and a two-hundred day moving average price of $14.99. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.46. The firm has a market cap of $659.76 million, a PE ratio of 97.27 and a beta of 1.30.

Ambac Financial Group (NYSE:AMBC) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.29. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. The firm had revenue of $76.00 million during the quarter. During the same quarter last year, the business earned $4.18 EPS. Sell-side analysts expect that Ambac Financial Group will post 0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AMBC. Qube Research & Technologies Ltd grew its position in shares of Ambac Financial Group by 153.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 274,795 shares of the company’s stock worth $3,314,000 after acquiring an additional 166,239 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Ambac Financial Group by 64.8% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 408,719 shares of the company’s stock worth $4,929,000 after acquiring an additional 160,709 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Ambac Financial Group by 586.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 164,191 shares of the company’s stock worth $1,980,000 after acquiring an additional 140,260 shares in the last quarter. American Century Companies Inc. grew its position in shares of Ambac Financial Group by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 427,678 shares of the company’s stock worth $5,158,000 after acquiring an additional 73,191 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Ambac Financial Group by 1,133.7% in the 4th quarter. Federated Hermes Inc. now owns 76,134 shares of the company’s stock worth $1,255,000 after acquiring an additional 69,963 shares in the last quarter. 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.