Ambac Financial Group (NASDAQ:AMBC) Upgraded to Sell by BidaskClub

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Ambac Financial Group (NASDAQ:AMBC) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Separately, TheStreet lowered shares of Ambac Financial Group from a “c” rating to a “d+” rating in a research report on Tuesday, May 14th.

Shares of Ambac Financial Group stock opened at $14.87 on Wednesday. Ambac Financial Group has a fifty-two week low of $14.67 and a fifty-two week high of $23.34. The company has a debt-to-equity ratio of 5.20, a current ratio of 1.26 and a quick ratio of 1.26.

Ambac Financial Group (NASDAQ:AMBC) last issued its earnings results on Thursday, May 9th. The financial services provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Ambac Financial Group had a negative net margin of 37.35% and a negative return on equity of 2.12%. The company had revenue of $100.37 million during the quarter, compared to analyst estimates of $79.65 million. During the same quarter in the prior year, the business earned $7.22 EPS.

In other Ambac Financial Group news, Director Jeffrey Scott Stein purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $15.42 per share, for a total transaction of $46,260.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $154,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Claude Leblanc purchased 13,500 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $16.81 per share, for a total transaction of $226,935.00. Following the acquisition, the chief executive officer now owns 71,125 shares of the company’s stock, valued at approximately $1,195,611.25. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 29,330 shares of company stock worth $477,972. 1.60% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Asset Dedication LLC acquired a new position in shares of Ambac Financial Group during the first quarter worth $25,000. Macquarie Group Ltd. raised its stake in Ambac Financial Group by 183.3% during the fourth quarter. Macquarie Group Ltd. now owns 1,700 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,100 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Ambac Financial Group by 104.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock worth $31,000 after buying an additional 892 shares during the last quarter. Kore Private Wealth LLC bought a new position in Ambac Financial Group during the first quarter worth $36,000. Finally, Pearl River Capital LLC bought a new position in Ambac Financial Group during the fourth quarter worth $43,000. Institutional investors own 80.80% of the company’s stock.

Ambac Financial Group Company Profile

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to public and private sector clients in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; and credit derivative contracts and Interest rate derivative transactions.

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