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

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

Ambac Financial Group Stock Up 1.5 %

Ambac Financial Group stock 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 company has a debt-to-equity ratio of 2.46, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a 50 day moving average price of $15.31 and a 200 day moving average price of $15.03. The company has a market capitalization of $659.76 million, a PE ratio of 97.27 and a beta of 1.30.

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

Hedge Funds Weigh In On Ambac Financial Group

Several institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its stake in shares of 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 worth $165,000 after acquiring an additional 5,145 shares in the last quarter. Gendell Jeffrey L grew its stake in shares of Ambac Financial Group by 52.9% in the fourth quarter. Gendell Jeffrey L now owns 199,255 shares of the company’s stock worth $3,284,000 after acquiring an additional 68,959 shares in the last quarter. Assetmark Inc. grew its stake in shares of Ambac Financial Group by 100.3% in the fourth quarter. Assetmark Inc. now owns 91,123 shares of the company’s stock worth $1,502,000 after acquiring an additional 45,630 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ambac Financial Group by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,603,679 shares of the company’s stock worth $42,908,000 after acquiring an additional 65,733 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Ambac Financial Group by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,577 shares of the company’s stock worth $10,705,000 after acquiring an additional 9,493 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.