Ambac Financial Group (NYSE:AMBC) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Ambac Financial Group (NYSE:AMBC) from a hold rating to a sell rating in a research report released on Friday.

Ambac Financial Group Price Performance

Shares of NYSE AMBC opened at $14.75 on Friday. The firm has a market capitalization of $667.00 million, a P/E ratio of 98.34 and a beta of 1.30. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.46. The stock’s 50-day simple moving average is $15.29 and its two-hundred day simple moving average is $15.05. Ambac Financial Group has a twelve month low of $11.26 and a twelve month high of $17.80.

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

Institutional Investors Weigh In On Ambac Financial Group

A number of large investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP raised its holdings in shares of 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 buying an additional 1,052 shares in the last quarter. Clearstead Advisors LLC bought a new stake in shares of Ambac Financial Group in the 3rd quarter worth approximately $72,000. Federated Hermes Inc. lifted its holdings in shares of Ambac Financial Group by 26.9% in the 3rd quarter. Federated Hermes Inc. now owns 6,171 shares of the company’s stock worth $74,000 after acquiring an additional 1,309 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of Ambac Financial Group in the 3rd quarter valued at $122,000. Finally, Victory Capital Management Inc. bought a new position in shares of Ambac Financial Group during the 4th quarter valued at $165,000. Hedge funds and other institutional investors 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.