Ambac Financial Group (NYSE:AMBC) Raised to “Hold” at StockNews.com

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

Ambac Financial Group Stock Performance

NYSE AMBC opened at $18.37 on Wednesday. Ambac Financial Group has a fifty-two week low of $11.26 and a fifty-two week high of $18.45. The firm has a market capitalization of $830.69 million, a P/E ratio of 122.14 and a beta of 1.30. The stock’s fifty day moving average is $15.19 and its two-hundred day moving average is $15.23. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.72 and a current ratio of 0.72.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.61. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. The firm had revenue of $103.00 million for the quarter. During the same period in the previous year, the firm posted ($0.30) EPS. On average, research analysts anticipate that Ambac Financial Group will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Ambac Financial Group

A number of hedge funds have recently modified their holdings of AMBC. SG Americas Securities LLC purchased a new position in shares of Ambac Financial Group during the 3rd quarter worth approximately $182,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ambac Financial Group by 5.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,837 shares of the company’s stock worth $239,000 after buying an additional 1,002 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Ambac Financial Group by 17.0% in the third quarter. Teacher Retirement System of Texas now owns 47,508 shares of the company’s stock valued at $573,000 after buying an additional 6,890 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Ambac Financial Group by 586.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 164,191 shares of the company’s stock valued at $1,980,000 after buying an additional 140,260 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new position in Ambac Financial Group during the 3rd quarter worth about $310,000. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

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.