Ambac Financial Group (NASDAQ:AMBC) Upgraded at BidaskClub

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BidaskClub upgraded shares of Ambac Financial Group (NASDAQ:AMBC) from a hold rating to a buy rating in a research report report published on Saturday, BidAskClub reports.

A number of other brokerages have also issued reports on AMBC. MKM Partners decreased their target price on shares of Ambac Financial Group to $15.00 and set a neutral rating for the company in a research report on Wednesday, June 12th. 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 AMBC opened at $17.89 on Friday. The firm has a 50-day moving average of $17.35. 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 has a 52-week low of $14.44 and a 52-week high of $23.34.

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

In other Ambac Financial Group news, CEO Claude Leblanc acquired 2,000 shares of Ambac Financial Group stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $15.95 per share, for a total transaction of $31,900.00. Following the transaction, the chief executive officer now owns 99,030 shares in the company, valued at approximately $1,579,528.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Scott Stein acquired 3,000 shares of Ambac Financial Group stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average price of $15.42 per share, with a total value of $46,260.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $154,200. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 29,330 shares of company stock valued at $477,972. Insiders own 1.60% of the company’s stock.

Several large investors have recently bought and sold shares of AMBC. Asset Dedication LLC bought a new position in shares of Ambac Financial Group during the 1st quarter valued at about $25,000. Macquarie Group Ltd. boosted its position in shares of Ambac Financial Group by 183.3% during the 4th quarter. Macquarie Group Ltd. now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,100 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Ambac Financial Group by 104.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 892 shares in the last quarter. 6 Meridian bought a new position in shares of Ambac Financial Group during the 1st quarter valued at about $195,000. Finally, Piedmont Investment Advisors Inc. boosted its position in shares of Ambac Financial Group by 5.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 11,421 shares of the financial services provider’s stock valued at $207,000 after purchasing an additional 633 shares in the last quarter. Institutional investors own 79.87% 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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