Ambac Financial Group, Inc. (NYSE:AMBC) Short Interest Update

Ambac Financial Group, Inc. (NYSE:AMBC - Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,960,000 shares, an increase of 11.3% from the September 15th total of 2,660,000 shares. Based on an average daily trading volume, of 486,800 shares, the days-to-cover ratio is currently 6.1 days. Currently, 7.0% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com downgraded Ambac Financial Group from a "hold" rating to a "sell" rating in a report on Wednesday, August 14th. Roth Capital upgraded Ambac Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 18th. Finally, Roth Mkm upgraded shares of Ambac Financial Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th.

Insider Activity at Ambac Financial Group

In other news, Director Kristi Ann Matus bought 2,700 shares of Ambac Financial Group stock in a transaction on Thursday, September 26th. The shares were bought at an average price of $11.27 per share, with a total value of $30,429.00. Following the acquisition, the director now directly owns 2,700 shares in the company, valued at approximately $30,429. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ambac Financial Group news, CFO David Trick acquired 3,700 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $10.76 per share, with a total value of $39,812.00. Following the transaction, the chief financial officer now directly owns 156,082 shares in the company, valued at approximately $1,679,442.32. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kristi Ann Matus acquired 2,700 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average price of $11.27 per share, for a total transaction of $30,429.00. Following the purchase, the director now owns 2,700 shares of the company's stock, valued at $30,429. The disclosure for this purchase can be found here. Insiders bought a total of 37,500 shares of company stock valued at $407,445 over the last three months. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Ambac Financial Group

Several institutional investors have recently bought and sold shares of AMBC. Deerfield Management Company L.P. Series C acquired a new position in Ambac Financial Group during the 2nd quarter valued at about $1,149,000. Marshall Wace LLP increased its stake in shares of Ambac Financial Group by 397.4% during the second quarter. Marshall Wace LLP now owns 345,715 shares of the company's stock valued at $4,432,000 after acquiring an additional 276,210 shares during the period. Dimensional Fund Advisors LP raised its holdings in Ambac Financial Group by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,952,961 shares of the company's stock worth $37,857,000 after purchasing an additional 87,077 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in Ambac Financial Group by 26.1% in the second quarter. Texas Permanent School Fund Corp now owns 49,890 shares of the company's stock worth $640,000 after purchasing an additional 10,336 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Ambac Financial Group by 95.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company's stock valued at $165,000 after purchasing an additional 5,145 shares in the last quarter. Institutional investors and hedge funds own 84.49% of the company's stock.

Ambac Financial Group Stock Performance

Shares of AMBC traded up $0.02 during mid-day trading on Thursday, reaching $11.97. 369,767 shares of the company's stock traded hands, compared to its average volume of 450,013. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.62 and a current ratio of 0.62. The business's 50-day moving average price is $11.25 and its 200-day moving average price is $13.27. The stock has a market capitalization of $541.34 million, a P/E ratio of 9.14 and a beta of 1.23. Ambac Financial Group has a 12 month low of $10.12 and a 12 month high of $18.45.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last announced its earnings results on Monday, August 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. The business had revenue of $105.00 million for the quarter. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Equities analysts predict that Ambac Financial Group will post 1.3 earnings per share for the current year.

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.