Short Interest in Ambac Financial Group, Inc. (NYSE:AMBC) Expands By 7.5%

Ambac Financial Group, Inc. (NYSE:AMBC) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totalling 3,000,000 shares, a growth of 7.5% from the June 30th total of 2,790,000 shares. Based on an average daily volume of 481,800 shares, the days-to-cover ratio is currently 6.2 days. Approximately 7.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Ambac Financial Group

Institutional investors have recently bought and sold shares of the company. nVerses Capital LLC boosted its holdings in Ambac Financial Group by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock worth $64,000 after buying an additional 4,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ambac Financial Group by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock worth $126,000 after purchasing an additional 1,637 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Ambac Financial Group during the 4th quarter worth approximately $165,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ambac Financial Group by 95.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock worth $165,000 after purchasing an additional 5,145 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of Ambac Financial Group during the 4th quarter worth approximately $178,000. 84.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMBC. StockNews.com upgraded Ambac Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Compass Point raised their target price on Ambac Financial Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th.

Ambac Financial Group Price Performance

Shares of Ambac Financial Group stock traded down $0.75 on Thursday, hitting $12.44. The company’s stock had a trading volume of 433,587 shares, compared to its average volume of 423,260. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.71 and a current ratio of 0.71. Ambac Financial Group has a 1 year low of $11.26 and a 1 year high of $18.45. The firm has a fifty day moving average price of $13.53 and a 200-day moving average price of $15.00. The company has a market capitalization of $562.54 million, a price-to-earnings ratio of 9.70 and a beta of 1.24.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.61. Ambac Financial Group had a return on equity of 10.69% and a net margin of 18.09%. The firm had revenue of $103.00 million during the quarter. During the same quarter in the prior year, the firm earned ($0.30) EPS. As a group, sell-side analysts anticipate that Ambac Financial Group will post 1.45 earnings per share for the current fiscal year.

Ambac Financial Group Company Profile

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.