Ambac Financial Group (AMBC) Upgraded to Strong-Buy by BidaskClub
Ambac Financial Group (NASDAQ:AMBC) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.
Separately, MKM Partners boosted their target price on Ambac Financial Group to $20.00 and gave the company a “neutral” rating in a research note on Friday, June 29th.
NASDAQ:AMBC opened at $21.82 on Tuesday. The firm has a market cap of $991.41 million, a P/E ratio of 4.54 and a beta of 1.70. Ambac Financial Group has a 1-year low of $13.17 and a 1-year high of $23.34. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 7.22.
A number of hedge funds and other institutional investors have recently modified their holdings of AMBC. Glen Harbor Capital Management LLC purchased a new position in Ambac Financial Group in the second quarter valued at about $115,000. SG3 Management LLC grew its stake in Ambac Financial Group by 160.0% in the second quarter. SG3 Management LLC now owns 7,500 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 20,000 shares in the last quarter. Globeflex Capital L P purchased a new position in Ambac Financial Group in the second quarter valued at about $159,000. Meadow Creek Investment Management LLC purchased a new position in Ambac Financial Group in the second quarter valued at about $178,000. Finally, Algert Global LLC purchased a new position in Ambac Financial Group in the second quarter valued at about $199,000. Hedge funds and other institutional investors own 79.58% of the company’s stock.
About Ambac Financial Group
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to clients in public and private sectors worldwide. It offers financial guarantee insurance policies and credit derivative contracts for public finance, structured finance, and international finance. The company was founded in 1971 and is headquartered in New York, New York.
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