Ambac Financial Group, Inc. (NASDAQ:AMBC) was the recipient of a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,670,000 shares, a drop of 6.2% from the October 31st total of 1,780,000 shares. Based on an average daily trading volume, of 237,600 shares, the days-to-cover ratio is presently 7.0 days. Approximately 3.7% of the company’s shares are short sold.
A number of brokerages recently commented on AMBC. MKM Partners set a $20.00 price objective on Ambac Financial Group and gave the stock a “hold” rating in a research report on Wednesday, September 18th. BTIG Research reiterated a “buy” rating and set a $26.00 price objective on shares of Ambac Financial Group in a research report on Sunday, September 22nd. Finally, BidaskClub downgraded Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th.
Shares of Ambac Financial Group stock opened at $20.82 on Monday. Ambac Financial Group has a one year low of $14.44 and a one year high of $21.95. The company has a market cap of $944.33 million, a price-to-earnings ratio of 5.84 and a beta of 1.06. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.30 and a current ratio of 1.30. The business’s 50 day moving average price is $20.27 and its 200 day moving average price is $18.28.
A number of large investors have recently bought and sold shares of AMBC. Bank of Montreal Can raised its position in Ambac Financial Group by 733.9% in the second quarter. Bank of Montreal Can now owns 4,303 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 3,787 shares during the period. Crossmark Global Holdings Inc. raised its position in Ambac Financial Group by 5.6% in the second quarter. Crossmark Global Holdings Inc. now owns 14,800 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 790 shares during the period. Jefferies Group LLC purchased a new stake in Ambac Financial Group in the second quarter valued at $344,000. GSA Capital Partners LLP purchased a new stake in Ambac Financial Group in the second quarter valued at $348,000. Finally, Mraz Amerine & Associates Inc. raised its position in Ambac Financial Group by 10.0% in the second quarter. Mraz Amerine & Associates Inc. now owns 22,100 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 79.09% of the company’s stock.
About Ambac Financial Group
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.
See Also: Bond
Receive News & Ratings for Ambac Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambac Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.