BidaskClub Upgrades Ambac Financial Group (NASDAQ:AMBC) to Hold

BidaskClub upgraded shares of Ambac Financial Group (NASDAQ:AMBC) from a sell rating to a hold rating in a research note published on Saturday morning, BidAskClub reports.

Other equities analysts have also issued reports about the stock. TheStreet lowered shares of Ambac Financial Group from a c rating to a d+ rating in a research report on Tuesday, May 14th. MKM Partners dropped their price objective on shares of Ambac Financial Group to $15.00 and set a neutral rating on the stock in a research report on Wednesday, June 12th.

Shares of AMBC opened at $16.90 on Friday. The company has a 50-day moving average of $16.11. Ambac Financial Group has a fifty-two week low of $14.44 and a fifty-two week high of $23.34. The company has a debt-to-equity ratio of 5.20, a quick ratio of 1.26 and a current ratio of 1.26.

Ambac Financial Group (NASDAQ:AMBC) last issued its quarterly earnings data on Thursday, May 9th. The financial services provider reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.04). The company had revenue of $100.37 million during the quarter, compared to the consensus estimate of $79.65 million. Ambac Financial Group had a negative net margin of 37.35% and a negative return on equity of 2.12%. During the same period in the previous year, the company earned $7.22 earnings per share.

In other Ambac Financial Group news, CAO Robert Bryan Eisman purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of $15.17 per share, for a total transaction of $30,340.00. Following the completion of the purchase, the chief accounting officer now owns 22,183 shares of the company’s stock, valued at approximately $336,516.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David Trick purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $16.68 per share, for a total transaction of $50,040.00. Following the completion of the purchase, the chief financial officer now directly owns 53,713 shares of the company’s stock, valued at approximately $895,932.84. The disclosure for this purchase can be found here. Insiders purchased 29,330 shares of company stock worth $477,972 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan acquired a new position in shares of Ambac Financial Group in the fourth quarter valued at about $226,000. Comerica Bank grew its stake in Ambac Financial Group by 2.4% during the first quarter. Comerica Bank now owns 45,009 shares of the financial services provider’s stock worth $809,000 after buying an additional 1,075 shares in the last quarter. Pearl River Capital LLC acquired a new stake in Ambac Financial Group during the fourth quarter worth about $43,000. EJF Capital LLC grew its stake in Ambac Financial Group by 17.9% during the fourth quarter. EJF Capital LLC now owns 2,092,365 shares of the financial services provider’s stock worth $36,072,000 after buying an additional 317,979 shares in the last quarter. Finally, Texas Permanent School Fund grew its stake in Ambac Financial Group by 3.8% during the first quarter. Texas Permanent School Fund now owns 30,787 shares of the financial services provider’s stock worth $558,000 after buying an additional 1,120 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Ambac Financial Group Company Profile

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to public and private sector clients in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; and credit derivative contracts and Interest rate derivative transactions.

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