Short Interest in Ambac Financial Group, Inc. (NYSE:AMBC) Expands By 9.9%

Ambac Financial Group, Inc. (NYSE:AMBC) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 1,890,000 shares, an increase of 9.9% from the February 29th total of 1,720,000 shares. Based on an average trading volume of 367,600 shares, the days-to-cover ratio is currently 5.1 days. Currently, 4.3% of the company’s shares are short sold.

Ambac Financial Group Price Performance

NYSE:AMBC traded up $0.55 on Wednesday, reaching $15.93. The stock had a trading volume of 85,485 shares, compared to its average volume of 372,387. Ambac Financial Group has a 1-year low of $11.26 and a 1-year high of $17.80. The stock has a fifty day moving average price of $15.70 and a 200-day moving average price of $14.71. The company has a market capitalization of $719.88 million, a P/E ratio of 102.51 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.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Ambac Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday.

Institutional Trading of Ambac Financial Group

Large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its position in Ambac Financial Group by 27.3% during the 3rd quarter. Hsbc Holdings PLC now owns 305,185 shares of the company’s stock worth $3,723,000 after buying an additional 65,366 shares during the period. Invesco Ltd. boosted its position in Ambac Financial Group by 5.9% during the 3rd quarter. Invesco Ltd. now owns 885,456 shares of the company’s stock worth $10,679,000 after buying an additional 49,529 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Ambac Financial Group by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 640,084 shares of the company’s stock worth $7,719,000 after purchasing an additional 14,466 shares during the last quarter. American Century Companies Inc. raised its holdings in Ambac Financial Group by 20.6% during the 3rd quarter. American Century Companies Inc. now owns 427,678 shares of the company’s stock worth $5,158,000 after purchasing an additional 73,191 shares during the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in Ambac Financial Group by 64.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 408,719 shares of the company’s stock worth $4,929,000 after purchasing an additional 160,709 shares during 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.