Zacks: Brokerages Set $19.00 Target Price for Ambac Financial Group, Inc. (AMBC)
Shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) have received a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.
Brokerages have set a 12-month consensus price target of $19.00 for the company, according to Zacks. Zacks has also assigned Ambac Financial Group an industry rank of 220 out of 265 based on the ratings given to its competitors.
Several research analysts recently issued reports on AMBC shares. BTIG Research reiterated a “buy” rating and issued a $26.00 target price on shares of Ambac Financial Group in a research report on Saturday, July 22nd. MKM Partners reiterated a “neutral” rating and issued a $21.00 target price (up from $17.00) on shares of Ambac Financial Group in a research report on Tuesday, July 25th.
In other Ambac Financial Group news, Director C James Prieur purchased 10,000 shares of the stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $14.02 per share, with a total value of $140,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Claude Leblanc purchased 15,000 shares of the stock in a transaction on Wednesday, October 4th. The stock was acquired at an average cost of $16.64 per share, with a total value of $249,600.00. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its stake in 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 worth $106,000 after purchasing an additional 330 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Ambac Financial Group in the third quarter worth $184,000. Macquarie Group Ltd. bought a new stake in Ambac Financial Group in the third quarter worth $190,000. BNP Paribas Arbitrage SA lifted its stake in Ambac Financial Group by 35.7% in the second quarter. BNP Paribas Arbitrage SA now owns 14,211 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 3,737 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Ambac Financial Group in the second quarter worth $257,000. 72.87% of the stock is owned by institutional investors and hedge funds.
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Shares of Ambac Financial Group (AMBC) traded up $0.10 during trading hours on Friday, reaching $14.20. 355,595 shares of the company traded hands, compared to its average volume of 356,649. Ambac Financial Group has a one year low of $13.17 and a one year high of $27.25. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 7.46.
Ambac Financial Group (NASDAQ:AMBC) last announced its earnings results on Wednesday, November 8th. The financial services provider reported ($3.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($4.22). Ambac Financial Group had a negative return on equity of 9.68% and a negative net margin of 60.33%. The company had revenue of $132.97 million during the quarter, compared to analysts’ expectations of $125.84 million. During the same quarter last year, the firm posted $3.23 earnings per share. The firm’s revenue was down 8.3% on a year-over-year basis.
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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