StockNews.com Lowers Ambac Financial Group (NYSE:AMBC) to Sell

StockNews.com downgraded shares of Ambac Financial Group (NYSE:AMBC) from a hold rating to a sell rating in a research report released on Thursday morning.

Ambac Financial Group Stock Down 1.5 %

Ambac Financial Group stock opened at $14.67 on Thursday. Ambac Financial Group has a 52 week low of $11.26 and a 52 week high of $17.80. The firm has a market cap of $663.38 million, a price-to-earnings ratio of 97.81 and a beta of 1.30. The business’s 50-day moving average price is $15.16 and its 200 day moving average price is $15.11. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.46.

Ambac Financial Group (NYSE:AMBC) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.29. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. The business had revenue of $76.00 million for the quarter. During the same period in the previous year, the business earned $4.18 EPS. As a group, sell-side analysts anticipate that Ambac Financial Group will post 0.45 earnings per share for the current year.

Institutional Investors Weigh In On Ambac Financial Group

Institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC boosted its position in Ambac Financial Group by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 96,345 shares of the company’s stock worth $1,588,000 after purchasing an additional 764 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Ambac Financial Group by 3.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 26,645 shares of the company’s stock worth $439,000 after buying an additional 905 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ambac Financial Group by 5.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,837 shares of the company’s stock valued at $239,000 after buying an additional 1,002 shares in the last quarter. Gladius Capital Management LP grew its stake in Ambac Financial Group by 71.3% in the 3rd quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock valued at $30,000 after acquiring an additional 1,052 shares during the period. Finally, Federated Hermes Inc. increased its holdings in Ambac Financial Group by 26.9% in the 3rd quarter. Federated Hermes Inc. now owns 6,171 shares of the company’s stock worth $74,000 after acquiring an additional 1,309 shares in the last quarter. 84.49% of the stock is currently owned by institutional investors and hedge funds.

About Ambac Financial Group

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.