Ambac Financial Group (NYSE:AMBC) Reaches New 52-Week High After Analyst Upgrade

Ambac Financial Group, Inc. (NYSE:AMBC)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Compass Point raised their price target on the stock from $18.00 to $19.00. Compass Point currently has a buy rating on the stock. Ambac Financial Group traded as high as $18.38 and last traded at $18.10, with a volume of 190799 shares traded. The stock had previously closed at $18.04.

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

Hedge Funds Weigh In On Ambac Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of Ambac Financial Group by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 96,345 shares of the company’s stock valued at $1,588,000 after acquiring an additional 764 shares during the period. Texas Permanent School Fund Corp lifted its holdings in Ambac Financial Group by 2.0% in the first quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock worth $618,000 after purchasing an additional 770 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Ambac Financial Group by 3.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 26,645 shares of the company’s stock worth $439,000 after purchasing an additional 905 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ambac Financial Group by 5.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,837 shares of the company’s stock worth $239,000 after purchasing an additional 1,002 shares during the period. Finally, Gladius Capital Management LP lifted its holdings in Ambac Financial Group by 71.3% in the third quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock worth $30,000 after purchasing an additional 1,052 shares during the period. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Stock Up 0.1 %

The firm has a market cap of $828.97 million, a price-to-earnings ratio of 13.99 and a beta of 1.30. The firm’s fifty day moving average is $15.23 and its two-hundred day moving average is $15.25. The company has a debt-to-equity ratio of 2.46, a current ratio of 0.72 and a quick ratio of 0.72.

Ambac Financial Group (NYSE:AMBC) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.61. The business had revenue of $103.00 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 in the previous year, the company earned ($0.30) EPS. On average, sell-side analysts expect that Ambac Financial Group, Inc. will post 0.45 EPS for the current fiscal year.

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.