Ambac Financial Group (NYSE:AMBC) Trading Down 5.4% – Here’s Why

Ambac Financial Group, Inc. (NYSE:AMBC)’s share price was down 5.4% during mid-day trading on Thursday . The stock traded as low as $12.08 and last traded at $12.19. Approximately 92,939 shares traded hands during trading, a decline of 80% from the average daily volume of 462,292 shares. The stock had previously closed at $12.89.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Roth Capital raised Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Roth Mkm raised Ambac Financial Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th. Finally, StockNews.com downgraded shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th.

Ambac Financial Group Trading Up 2.0 %

The company has a fifty day moving average of $11.39 and a 200-day moving average of $12.79. The company has a current ratio of 0.58, a quick ratio of 0.62 and a debt-to-equity ratio of 2.10. The company has a market capitalization of $585.41 million, a price-to-earnings ratio of -26.83 and a beta of 1.22.

Insider Transactions at Ambac Financial Group

In other news, Director Kristi Ann Matus acquired 2,700 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average price of $11.27 per share, for a total transaction of $30,429.00. Following the acquisition, the director now owns 2,700 shares of the company’s stock, valued at $30,429. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of Ambac Financial Group by 95.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock valued at $165,000 after buying an additional 5,145 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Ambac Financial Group by 55.3% during the first quarter. BNP Paribas Financial Markets now owns 23,370 shares of the company’s stock worth $365,000 after acquiring an additional 8,318 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in Ambac Financial Group by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock valued at $618,000 after acquiring an additional 770 shares during the last quarter. Sei Investments Co. lifted its holdings in Ambac Financial Group by 30.1% during the 1st quarter. Sei Investments Co. now owns 29,714 shares of the company’s stock worth $464,000 after buying an additional 6,879 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Ambac Financial Group by 27.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,040 shares of the company’s stock valued at $248,000 after purchasing an additional 3,410 shares during the period. Institutional investors and hedge funds own 84.49% of the company’s stock.

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.