Ambac Financial Group, Inc. (NYSE:AMBC) Sees Significant Drop in Short Interest

Ambac Financial Group, Inc. (NYSE:AMBC – Get Rating) saw a large drop in short interest during the month of December. As of December 30th, there was short interest totalling 2,390,000 shares, a drop of 5.2% from the December 15th total of 2,520,000 shares. Based on an average daily volume of 524,800 shares, the short-interest ratio is currently 4.6 days. Currently, 5.4% of the shares of the company are short sold.

Ambac Financial Group Stock Up 2.3 %

Shares of NYSE AMBC opened at $17.29 on Monday. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.47 and a quick ratio of 1.47. Ambac Financial Group has a 52 week low of $7.24 and a 52 week high of $17.59. The company has a 50-day moving average of $16.24. The firm has a market capitalization of $777.53 million, a PE ratio of 2.42 and a beta of 1.18.

Ambac Financial Group (NYSE:AMBC – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $7.37 EPS for the quarter. Ambac Financial Group had a net margin of 96.15% and a return on equity of 35.58%. The firm had revenue of $80.00 million during the quarter.

Institutional Trading of Ambac Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in Ambac Financial Group during the first quarter worth about $26,000. Nisa Investment Advisors LLC raised its position in Ambac Financial Group by 62.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,770 shares of the company’s stock worth $31,000 after acquiring an additional 1,070 shares during the last quarter. KBC Group NV acquired a new position in Ambac Financial Group during the second quarter worth about $45,000. Mutual of America Capital Management LLC raised its position in Ambac Financial Group by 13.4% during the second quarter. Mutual of America Capital Management LLC now owns 7,565 shares of the company’s stock worth $86,000 after acquiring an additional 893 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in Ambac Financial Group during the third quarter worth about $105,000. Institutional investors and hedge funds own 69.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMBC. StockNews.com began coverage on shares of Ambac Financial Group in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Compass Point began coverage on shares of Ambac Financial Group in a research note on Monday, November 28th. They issued a “neutral” rating and a $18.00 target price for the company.

About Ambac Financial Group

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Ambac Financial Group, Inc is a holding company, which engages in the provision of financial guarantee insurance policies through its subsidiary, Ambac Assurance Corp. Its services include credit, insurance, asset management and other financial services. The company was founded on April 29, 1991 and is headquartered in New York, NY.