MKM Partners Reaffirms “Hold” Rating for Ambac Financial Group, Inc. (AMBC)

MKM Partners reiterated their hold rating on shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) in a research report sent to investors on Thursday, October 5th.

Separately, BTIG Research restated a buy rating and set a $26.00 target price on shares of Ambac Financial Group in a report on Wednesday, June 21st.

Ambac Financial Group (AMBC) opened at 16.17 on Thursday. The firm’s market cap is $731.71 million. The firm has a 50-day moving average of $17.48 and a 200 day moving average of $18.03. Ambac Financial Group has a 1-year low of $15.67 and a 1-year high of $27.25.

Ambac Financial Group (NASDAQ:AMBC) last released its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.32. The business had revenue of $172.85 million for the quarter, compared to analyst estimates of $127.75 million. Ambac Financial Group had a negative net margin of 16.39% and a positive return on equity of 5.74%. Ambac Financial Group’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.54 EPS. On average, analysts predict that Ambac Financial Group will post $1.63 EPS for the current year.

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In other news, CEO Claude Leblanc bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was acquired at an average cost of $16.64 per share, with a total value of $249,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in AMBC. Public Employees Retirement System of Ohio boosted its position in Ambac Financial Group by 5.7% during the second quarter. Public Employees Retirement System of Ohio now owns 6,093 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 330 shares during the period. BNP Paribas Arbitrage SA boosted its position in Ambac Financial Group by 27.2% during the first quarter. BNP Paribas Arbitrage SA now owns 10,474 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 2,237 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Ambac Financial Group during the second quarter worth $257,000. Schroder Investment Management Group bought a new position in Ambac Financial Group during the first quarter worth $266,000. Finally, BB&T Securities LLC boosted its position in Ambac Financial Group by 57.2% during the second quarter. BB&T Securities LLC now owns 16,768 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 6,100 shares during the period. 72.96% of the stock is owned by hedge funds and other institutional investors.

About Ambac Financial Group

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.

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