Ambac Financial Group, Inc. (NYSE:AMBC) Short Interest Up 20.6% in March

Ambac Financial Group, Inc. (NYSE:AMBC) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,450,000 shares, a growth of 20.6% from the February 28th total of 2,860,000 shares. Based on an average trading volume of 926,100 shares, the days-to-cover ratio is presently 3.7 days. Currently, 8.2% of the shares of the company are sold short.

Ambac Financial Group Price Performance

Shares of Ambac Financial Group stock remained flat at $8.25 during midday trading on Wednesday. 871,645 shares of the stock traded hands, compared to its average volume of 630,779. Ambac Financial Group has a twelve month low of $7.86 and a twelve month high of $18.45. The company’s fifty day moving average price is $10.26 and its 200 day moving average price is $11.33. The company has a market cap of $381.50 million, a PE ratio of -17.93 and a beta of 1.26. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10.

Ambac Financial Group (NYSE:AMBC) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.18). Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. The company had revenue of $18.93 million during the quarter, compared to analyst estimates of $24.83 million. On average, sell-side analysts expect that Ambac Financial Group will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Ambac Financial Group

Several large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in shares of Ambac Financial Group during the 3rd quarter worth approximately $46,000. Point72 Asset Management L.P. bought a new position in Ambac Financial Group in the fourth quarter worth $92,000. Aquatic Capital Management LLC acquired a new stake in Ambac Financial Group during the fourth quarter worth $105,000. Bayesian Capital Management LP bought a new stake in Ambac Financial Group in the 4th quarter valued at $127,000. Finally, Aigen Investment Management LP bought a new position in shares of Ambac Financial Group during the 4th quarter worth about $146,000. Institutional investors and hedge funds own 84.49% of the company’s stock.

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.