Ambac Financial Group (NYSE:AMBC) Lowered 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 report published on Thursday.

Ambac Financial Group Trading Down 1.5 %

AMBC opened at $14.67 on Thursday. The stock has a market capitalization of $663.38 million, a price-to-earnings ratio of 97.77 and a beta of 1.30. 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 company has a 50-day simple moving average of $15.16 and a 200 day simple moving average of $15.09. Ambac Financial Group has a twelve month low of $11.26 and a twelve month high of $17.80.

Ambac Financial Group (NYSE:AMBC) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.29. The business had revenue of $76.00 million for the quarter. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. During the same period in the prior year, the firm posted $4.18 EPS. Analysts predict that Ambac Financial Group will post 0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Ambac Financial Group

A number of hedge funds have recently modified their holdings of AMBC. BNP Paribas Financial Markets raised its stake in shares of Ambac Financial Group by 55.3% in the first quarter. BNP Paribas Financial Markets now owns 23,370 shares of the company’s stock valued at $365,000 after buying an additional 8,318 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Ambac Financial Group by 95.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock worth $165,000 after acquiring an additional 5,145 shares during the last quarter. Gendell Jeffrey L raised its stake in Ambac Financial Group by 52.9% in the 4th quarter. Gendell Jeffrey L now owns 199,255 shares of the company’s stock valued at $3,284,000 after acquiring an additional 68,959 shares during the period. Assetmark Inc. lifted its holdings in Ambac Financial Group by 100.3% during the fourth quarter. Assetmark Inc. now owns 91,123 shares of the company’s stock valued at $1,502,000 after purchasing an additional 45,630 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Ambac Financial Group by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,603,679 shares of the company’s stock worth $42,908,000 after purchasing an additional 65,733 shares during the period. Institutional investors own 84.49% of the company’s stock.

Ambac Financial Group Company Profile

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.