Ambac Financial Group (NYSE:AMBC) Downgraded by StockNews.com

StockNews.com lowered shares of Ambac Financial Group (NYSE:AMBC) from a hold rating to a sell rating in a report issued on Thursday.

Ambac Financial Group Stock Performance

Shares of Ambac Financial Group stock opened at $14.67 on Thursday. The company has a 50 day moving average of $15.16 and a 200-day moving average of $15.09. The company has a market cap of $663.38 million, a PE ratio of 97.81 and a beta of 1.30. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.46. Ambac Financial Group has a 1-year low of $11.26 and a 1-year high of $17.80.

Ambac Financial Group (NYSE:AMBC) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.29. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. The business had revenue of $76.00 million for the quarter. During the same period last year, the business earned $4.18 earnings per share. As a group, equities research analysts forecast that Ambac Financial Group will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Ambac Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gladius Capital Management LP increased its position in Ambac Financial Group by 71.3% during the 3rd quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock valued at $30,000 after purchasing an additional 1,052 shares during the period. Clearstead Advisors LLC bought a new stake in shares of Ambac Financial Group in the 3rd quarter valued at $72,000. Federated Hermes Inc. increased its position in shares of Ambac Financial Group by 26.9% during the third quarter. Federated Hermes Inc. now owns 6,171 shares of the company’s stock worth $74,000 after buying an additional 1,309 shares during the period. Victory Capital Management Inc. bought a new position in Ambac Financial Group during the fourth quarter worth $165,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Ambac Financial Group in the third quarter valued at $122,000. 84.49% of the stock is currently owned by institutional investors and hedge funds.

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.