Ambac Financial Group (NASDAQ:AMBC) issued its quarterly earnings data on Thursday. The financial services provider reported $1.88 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.64 by ($0.76), Bloomberg Earnings reports. The firm had revenue of $89.13 million for the quarter, compared to analysts’ expectations of $76.49 million. Ambac Financial Group had a positive return on equity of 0.71% and a negative net margin of 78.82%. The firm’s revenue was down 40.8% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share.

NASDAQ:AMBC opened at $18.48 on Friday. The firm’s fifty day moving average is $17.53. Ambac Financial Group has a fifty-two week low of $14.44 and a fifty-two week high of $22.42. The stock has a market cap of $856.70 million, a price-to-earnings ratio of 72.39 and a beta of 1.09. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 5.20.

AMBC has been the topic of several recent research reports. TheStreet cut Ambac Financial Group from a “c” rating to a “d+” rating in a report on Tuesday, May 14th. BidaskClub raised Ambac Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. BTIG Research initiated coverage on Ambac Financial Group in a report on Friday, August 2nd. They set a “buy” rating and a $26.00 price objective on the stock. Finally, MKM Partners decreased their price objective on Ambac Financial Group to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, June 12th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $20.50.

In related 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 bought at an average price of $15.17 per share, for a total transaction of $30,340.00. Following the acquisition, the chief accounting officer now owns 22,183 shares of the company’s stock, valued at approximately $336,516.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Claude Leblanc purchased 13,500 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $16.81 per share, for a total transaction of $226,935.00. Following the acquisition, the chief executive officer now directly owns 71,125 shares in the company, valued at approximately $1,195,611.25. The disclosure for this purchase can be found here. Insiders have purchased a total of 29,330 shares of company stock worth $477,972 in the last 90 days. 1.60% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in AMBC. Asset Dedication LLC purchased a new stake in Ambac Financial Group during the 1st quarter valued at $25,000. Macquarie Group Ltd. raised its holdings in Ambac Financial Group by 183.3% during the 4th quarter. Macquarie Group Ltd. now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,100 shares during the period. PNC Financial Services Group Inc. raised its holdings in Ambac Financial Group by 104.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock valued at $31,000 after buying an additional 892 shares during the period. Bank of Montreal Can raised its holdings in Ambac Financial Group by 733.9% during the 2nd quarter. Bank of Montreal Can now owns 4,303 shares of the financial services provider’s stock valued at $73,000 after buying an additional 3,787 shares during the period. Finally, 6 Meridian purchased a new stake in Ambac Financial Group during the 1st quarter valued at $195,000. Institutional investors own 79.87% of the company’s stock.

About Ambac Financial Group

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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Earnings History for Ambac Financial Group (NASDAQ:AMBC)

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