Ambac Financial Group, Inc. (NASDAQ:AMBC) shares traded down 5.5% on Wednesday . The stock traded as low as $16.31 and last traded at $16.70. 1,318,278 shares traded hands during mid-day trading, an increase of 366% from the average session volume of 282,953 shares. The stock had previously closed at $17.68.

Several research analysts have weighed in on the stock. BTIG Research reissued a “buy” rating and issued a $26.00 price target on shares of Ambac Financial Group in a report on Saturday, July 22nd. MKM Partners reissued a “neutral” rating and issued a $21.00 price target (up from $17.00) on shares of Ambac Financial Group in a report on Tuesday, July 25th.

The firm’s 50-day moving average is $17.87 and its 200-day moving average is $18.10. The company’s market cap is $755.69 million.

Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.32. Ambac Financial Group had a negative net margin of 16.39% and a positive return on equity of 5.74%. The company had revenue of $172.85 million for the quarter, compared to analyst estimates of $127.75 million. During the same quarter in the previous year, the firm posted $2.54 earnings per share. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. Equities analysts anticipate that Ambac Financial Group, Inc. will post $1.63 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in shares of Ambac Financial Group by 5.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,093 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 330 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Ambac Financial Group by 27.2% in the first quarter. BNP Paribas Arbitrage SA now owns 10,474 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 2,237 shares during the period. Schroder Investment Management Group bought a new stake in shares of Ambac Financial Group in the first quarter valued at approximately $266,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Ambac Financial Group in the second quarter valued at approximately $257,000. Finally, BB&T Securities LLC raised its position in shares of Ambac Financial Group by 57.2% in the second quarter. BB&T Securities LLC now owns 16,768 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 6,100 shares during the period. 72.95% of the stock is currently owned by institutional investors.

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Ambac Financial Group Company Profile

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.

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