Short Interest in Ambac Financial Group, Inc. (NYSE:AMBC) Decreases By 13.2%

Ambac Financial Group, Inc. (NYSE:AMBC) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,640,000 shares, a drop of 13.2% from the March 15th total of 1,890,000 shares. Currently, 4.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 371,100 shares, the short-interest ratio is presently 4.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AMBC. Arrowstreet Capital Limited Partnership boosted its stake in Ambac Financial Group by 1,426.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 913,665 shares of the company’s stock worth $14,144,000 after buying an additional 853,797 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Ambac Financial Group by 613.2% during the first quarter. JPMorgan Chase & Co. now owns 823,450 shares of the company’s stock valued at $12,747,000 after purchasing an additional 707,991 shares during the period. Millennium Management LLC boosted its stake in shares of Ambac Financial Group by 1,802.3% during the fourth quarter. Millennium Management LLC now owns 458,086 shares of the company’s stock valued at $7,989,000 after purchasing an additional 434,005 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Ambac Financial Group during the fourth quarter valued at $6,943,000. Finally, Norges Bank purchased a new stake in shares of Ambac Financial Group during the fourth quarter valued at $5,640,000. 84.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Ambac Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, April 8th.

Ambac Financial Group Price Performance

Shares of Ambac Financial Group stock traded down $0.09 on Tuesday, hitting $14.23. 299,960 shares of the company traded hands, compared to its average volume of 376,441. The business has a 50-day simple moving average of $15.52 and a 200 day simple moving average of $14.90. Ambac Financial Group has a 52 week low of $11.26 and a 52 week high of $17.80. The stock has a market capitalization of $643.48 million, a P/E ratio of 94.87 and a beta of 1.30. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.72 and a current ratio of 0.72.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.29. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. The company had revenue of $76.00 million for the quarter. During the same quarter in the prior year, the firm posted $4.18 EPS. Research analysts expect that Ambac Financial Group will post 0.45 earnings per share for the current fiscal 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.