Ambac Financial Group, Inc. (NYSE:AMBC) Short Interest Update

Ambac Financial Group, Inc. (NYSE:AMBC) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 4,420,000 shares, an increase of 13.6% from the October 31st total of 3,890,000 shares. Approximately 10.4% of the shares of the stock are sold short. Based on an average daily volume of 556,200 shares, the days-to-cover ratio is currently 7.9 days.

Ambac Financial Group Stock Performance

Shares of AMBC stock traded down $0.09 during trading hours on Tuesday, reaching $12.72. 295,926 shares of the company’s stock were exchanged, compared to its average volume of 469,282. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58. Ambac Financial Group has a 1 year low of $10.12 and a 1 year high of $18.45. The company has a market cap of $603.44 million, a P/E ratio of -27.28 and a beta of 1.25. The company’s 50 day moving average is $11.73 and its two-hundred day moving average is $12.40.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMBC shares. Roth Capital raised shares of Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Roth Mkm upgraded shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and raised their target price 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 report on Wednesday, August 14th.

Insider Activity at Ambac Financial Group

In related news, Director Kristi Ann Matus bought 2,700 shares of the stock in a transaction on Thursday, September 26th. The stock was bought at an average price of $11.27 per share, with a total value of $30,429.00. Following the completion of the purchase, the director now directly owns 2,700 shares in the company, valued at $30,429. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.00% of the company’s stock.

Institutional Trading of Ambac Financial Group

A number of hedge funds have recently bought and sold shares of the company. Quarry LP boosted its holdings in 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 acquiring an additional 2,110 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Ambac Financial Group in the 3rd quarter worth approximately $46,000. nVerses Capital LLC lifted its position in shares of Ambac Financial Group by 525.0% during the second quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock worth $64,000 after purchasing an additional 4,200 shares in the last quarter. 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 during the last quarter. Finally, Creative Planning acquired a new stake in shares of Ambac Financial Group in the 3rd quarter valued at about $156,000. 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.