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

Ambac Financial Group, Inc. (NYSE:AMBC - Get Free Report) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 4,050,000 shares, a decline of 6.0% from the December 31st total of 4,310,000 shares. Currently, 9.5% of the company's shares are sold short. Based on an average trading volume of 590,200 shares, the days-to-cover ratio is currently 6.9 days.

Ambac Financial Group Trading Up 0.8 %

Shares of Ambac Financial Group stock traded up $0.10 on Wednesday, hitting $11.60. The stock had a trading volume of 427,156 shares, compared to its average volume of 416,330. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.10. The stock's 50-day simple moving average is $12.13 and its two-hundred day simple moving average is $11.77. The stock has a market cap of $550.07 million, a price-to-earnings ratio of -25.21 and a beta of 1.23. Ambac Financial Group has a one year low of $10.12 and a one year high of $18.45.

Hedge Funds Weigh In On Ambac Financial Group

Several hedge funds have recently made changes to their positions in AMBC. Quarry LP raised its stake in Ambac Financial Group by 830.7% in the second quarter. Quarry LP now owns 2,364 shares of the company's stock worth $30,000 after buying an additional 2,110 shares in the last quarter. Point72 DIFC Ltd bought a new position in Ambac Financial Group in the third quarter worth $46,000. nVerses Capital LLC lifted its position in Ambac Financial Group by 92.0% during the third quarter. nVerses Capital LLC now owns 9,600 shares of the company's stock valued at $108,000 after buying an additional 4,600 shares during the period. Creative Planning bought a new stake in shares of Ambac Financial Group during the 3rd quarter valued at $156,000. Finally, XTX Topco Ltd bought a new stake in shares of Ambac Financial Group in the 3rd quarter worth approximately $172,000. 84.49% of the stock is owned by hedge funds and other institutional investors.

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.