Ambac Financial Group (NYSE:AMBC) Upgraded by Roth Mkm to Buy

Roth Mkm upgraded shares of Ambac Financial Group (NYSE:AMBC) from a neutral rating to a buy rating in a research note released on Wednesday, Marketbeat Ratings reports. Roth Mkm currently has $15.00 price objective on the stock, up from their previous price objective of $13.00.

Separately, StockNews.com lowered Ambac Financial Group from a hold rating to a sell rating in a report on Wednesday, August 14th.

Ambac Financial Group Trading Down 2.9 %

Shares of NYSE AMBC opened at $11.37 on Wednesday. The business has a 50-day moving average price of $11.64 and a two-hundred day moving average price of $13.78. The firm has a market capitalization of $514.21 million, a PE ratio of 8.68 and a beta of 1.24. Ambac Financial Group has a one year low of $10.12 and a one year high of $18.45. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.37.

Ambac Financial Group (NYSE:AMBC) last released its quarterly earnings results on Monday, August 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The business had revenue of $105.00 million for the quarter. Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. During the same quarter in the prior year, the company earned $0.07 EPS. As a group, analysts predict that Ambac Financial Group will post 1.3 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey Scott Stein purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $10.82 per share, with a total value of $270,500.00. Following the completion of the acquisition, the director now directly owns 35,000 shares in the company, valued at approximately $378,700. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ambac Financial Group news, Director Jeffrey Scott Stein purchased 25,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $10.82 per share, for a total transaction of $270,500.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at $378,700. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stephen Michael Ksenak bought 5,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were acquired at an average cost of $11.00 per share, with a total value of $55,000.00. Following the acquisition, the general counsel now directly owns 116,609 shares in the company, valued at approximately $1,282,699. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 34,800 shares of company stock worth $377,016. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ambac Financial Group

A number of hedge funds have recently modified their holdings of AMBC. Quarry LP boosted its holdings in shares of Ambac Financial Group by 830.7% in the second quarter. Quarry LP now owns 2,364 shares of the company’s stock valued at $30,000 after buying an additional 2,110 shares during the period. nVerses Capital LLC boosted its stake in Ambac Financial Group by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock worth $64,000 after purchasing an additional 4,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ambac Financial Group by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock worth $126,000 after purchasing an additional 1,637 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Ambac Financial Group in the 4th quarter valued at about $165,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Ambac Financial Group by 95.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock worth $165,000 after buying an additional 5,145 shares during the period. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Company Profile

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.