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

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

Ambac Financial Group Price Performance

AMBC opened at $14.67 on Thursday. The stock’s 50 day moving average price is $15.16 and its 200-day moving average price is $15.09. Ambac Financial Group has a 52-week low of $11.26 and a 52-week high of $17.80. The stock has a market capitalization of $663.38 million, a PE ratio of 97.81 and a beta of 1.30. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.72 and a current ratio of 0.72.

Ambac Financial Group (NYSE:AMBC) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.32 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company posted $4.18 earnings per share. On average, equities research analysts predict that Ambac Financial Group will post 0.45 EPS for the current year.

Institutional Trading of Ambac Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gladius Capital Management LP lifted its position in Ambac Financial Group by 71.3% in the 3rd quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock valued at $30,000 after acquiring an additional 1,052 shares in the last quarter. Clearstead Advisors LLC bought a new position in shares of Ambac Financial Group during the third quarter valued at $72,000. Federated Hermes Inc. boosted its position in shares of Ambac Financial Group by 26.9% during the third quarter. Federated Hermes Inc. now owns 6,171 shares of the company’s stock valued at $74,000 after buying an additional 1,309 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in Ambac Financial Group during the 3rd quarter valued at about $122,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Ambac Financial Group during the 4th quarter valued at about $165,000. Hedge funds and other institutional investors 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.