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Ambac Financial Group, Inc. (NYSE:AMBC – Get Rating) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,520,000 shares, a growth of 34.0% from the November 30th total of 1,880,000 shares. Currently, 5.7% of the company’s shares are short sold. Based on an average daily trading volume, of 507,600 shares, the short-interest ratio is presently 5.0 days.
Ambac Financial Group Stock Up 1.8 %
AMBC traded up $0.30 on Friday, hitting $17.44. 1,159,042 shares of the company were exchanged, compared to its average volume of 423,360. Ambac Financial Group has a twelve month low of $7.24 and a twelve month high of $17.59. The company has a market cap of $784.28 million, a price-to-earnings ratio of 2.44 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.62. The firm has a 50-day moving average price of $15.29 and a two-hundred day moving average price of $14.13.
Ambac Financial Group (NYSE:AMBC – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $7.37 earnings per share (EPS) for the quarter. The business had revenue of $80.00 million during the quarter. Ambac Financial Group had a return on equity of 35.58% and a net margin of 96.15%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in AMBC. Deutsche Bank AG boosted its position in shares of Ambac Financial Group by 152.0% in the 2nd quarter. Deutsche Bank AG now owns 624,416 shares of the company’s stock valued at $7,088,000 after purchasing an additional 376,632 shares during the period. Vanguard Group Inc. boosted its position in shares of Ambac Financial Group by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,752,430 shares of the company’s stock valued at $60,593,000 after purchasing an additional 241,449 shares during the period. Repertoire Partners LP boosted its position in shares of Ambac Financial Group by 18.8% in the 2nd quarter. Repertoire Partners LP now owns 1,196,066 shares of the company’s stock valued at $13,575,000 after purchasing an additional 189,064 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Ambac Financial Group by 84.0% in the 3rd quarter. Nuveen Asset Management LLC now owns 311,939 shares of the company’s stock valued at $3,978,000 after purchasing an additional 142,403 shares during the period. Finally, Engineers Gate Manager LP boosted its position in shares of Ambac Financial Group by 316.4% in the 1st quarter. Engineers Gate Manager LP now owns 176,008 shares of the company’s stock valued at $1,830,000 after purchasing an additional 133,743 shares during the period. 69.84% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AMBC has been the topic of a number of research analyst reports. Compass Point initiated coverage on Ambac Financial Group in a research report on Monday, November 28th. They issued a “neutral” rating and a $18.00 target price on the stock. TheStreet upgraded Ambac Financial Group from a “d+” rating to a “c-” rating in a research report on Wednesday, September 7th. Finally, StockNews.com initiated coverage on Ambac Financial Group in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock.
About Ambac Financial Group
(Get Rating)
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; specialty property & casualty program insurance; credit derivative contracts; and interest rate derivative transactions, as well as managing general agency / underwriting services.
Further Reading
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