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

Roth Mkm upgraded shares of Ambac Financial Group (NYSE:AMBC) from a neutral rating to a buy rating in a research report report published on Wednesday, MarketBeat Ratings reports. The firm currently has $15.00 price target on the stock, up from their prior price target of $13.00.

Separately, StockNews.com lowered shares of 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 AMBC opened at $11.37 on Wednesday. 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 has a 1-year low of $10.12 and a 1-year high of $18.45. The firm has a market capitalization of $514.21 million, a price-to-earnings ratio of 8.68 and a beta of 1.24. The firm’s 50-day moving average price is $11.64 and its 200-day moving average price is $13.78.

Ambac Financial Group (NYSE:AMBC) last issued its earnings results on Monday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $105.00 million during the quarter. Ambac Financial Group had a return on equity of 10.79% and a net margin of 19.27%. During the same quarter in the prior year, the company earned $0.07 EPS. Sell-side analysts anticipate that Ambac Financial Group will post 1.3 EPS for the current year.

Insiders Place Their Bets

In other Ambac Financial Group news, CFO David Trick bought 3,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $10.76 per share, with a total value of $39,812.00. Following the purchase, the chief financial officer now directly owns 156,082 shares in the company, valued at $1,679,442.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ambac Financial Group news, General Counsel Stephen Michael Ksenak purchased 5,000 shares of Ambac Financial Group stock in a transaction dated Wednesday, August 7th. The stock was 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 of the company’s stock, valued at $1,282,699. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David Trick bought 3,700 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $10.76 per share, for a total transaction of $39,812.00. Following the completion of the transaction, the chief financial officer now directly owns 156,082 shares in the company, valued at approximately $1,679,442.32. The disclosure for this purchase can be found here. Insiders have bought 34,800 shares of company stock worth $377,016 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Ambac Financial Group

Hedge funds have recently bought and sold shares of the company. Quarry LP increased its position in Ambac Financial Group by 830.7% during the 2nd quarter. Quarry LP now owns 2,364 shares of the company’s stock worth $30,000 after purchasing an additional 2,110 shares in the last quarter. nVerses Capital LLC raised its stake in Ambac Financial Group by 525.0% during the second quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock valued at $64,000 after buying an additional 4,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ambac Financial Group by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock valued at $126,000 after acquiring an additional 1,637 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ambac Financial Group by 95.3% in the 1st 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 during the period. Finally, Victory Capital Management Inc. acquired a new position in Ambac Financial Group in the fourth quarter valued at approximately $165,000. 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.