BidaskClub upgraded shares of Ambac Financial Group (NASDAQ:AMBC) from a buy rating to a strong-buy rating in a research report report published on Thursday morning, BidAskClub reports.

Other equities analysts have also issued reports about the stock. BTIG Research reiterated a buy rating and set a $26.00 target price on shares of Ambac Financial Group in a report on Sunday, August 11th. TheStreet lowered shares of Ambac Financial Group from a c rating to a d+ rating in a report on Tuesday, May 14th. Finally, MKM Partners decreased their price objective on shares of Ambac Financial Group to $15.00 and set a neutral rating for the company in a report on Wednesday, June 12th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ambac Financial Group has a consensus rating of Buy and an average price target of $20.50.

AMBC stock opened at $18.70 on Thursday. The firm has a 50 day moving average price of $17.76 and a 200-day moving average price of $17.95. Ambac Financial Group has a 52-week low of $14.44 and a 52-week high of $22.36. The firm has a market capitalization of $841.33 million, a price-to-earnings ratio of 71.04 and a beta of 1.09. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.26 and a current ratio of 1.33.

Ambac Financial Group (NASDAQ:AMBC) last released its earnings results on Thursday, August 8th. 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). Ambac Financial Group had a negative net margin of 78.82% and a positive return on equity of 0.72%. The business had revenue of $89.13 million for the quarter, compared to analysts’ expectations of $76.49 million. During the same quarter in the previous year, the business posted $0.78 earnings per share. Ambac Financial Group’s revenue for the quarter was down 40.8% on a year-over-year basis.

In other news, CAO Robert Bryan Eisman acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average cost of $15.17 per share, for a total transaction of $30,340.00. Following the acquisition, the chief accounting officer now directly owns 22,183 shares in the company, valued at $336,516.11. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey Scott Stein acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of $15.42 per share, with a total value of $46,260.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $154,200. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 9,330 shares of company stock valued at $143,317. 1.60% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Raging Capital Management LLC grew its position in Ambac Financial Group by 38.4% in the 2nd quarter. Raging Capital Management LLC now owns 1,884,032 shares of the financial services provider’s stock worth $31,746,000 after purchasing an additional 522,677 shares during the period. Morgan Stanley grew its position in Ambac Financial Group by 39.7% in the 2nd quarter. Morgan Stanley now owns 877,433 shares of the financial services provider’s stock worth $14,783,000 after purchasing an additional 249,229 shares during the period. CQS Cayman LP grew its position in Ambac Financial Group by 83.9% in the 2nd quarter. CQS Cayman LP now owns 800,010 shares of the financial services provider’s stock worth $13,481,000 after purchasing an additional 365,010 shares during the period. Bank of New York Mellon Corp grew its position in Ambac Financial Group by 7.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 693,699 shares of the financial services provider’s stock worth $11,688,000 after purchasing an additional 49,318 shares during the period. Finally, Northern Trust Corp grew its position in Ambac Financial Group by 1.4% in the 2nd quarter. Northern Trust Corp now owns 599,852 shares of the financial services provider’s stock worth $10,107,000 after purchasing an additional 8,440 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Return on Equity (ROE)

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