Ambac Financial Group, Inc. (NASDAQ:AMBC) Receives Buy Rating from BTIG Research

Ambac Financial Group, Inc. (NASDAQ:AMBC)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a research note issued on Saturday, July 22nd. They currently have a $26.00 target price on the financial services provider’s stock. BTIG Research’s price target indicates a potential upside of 43.01% from the stock’s current price.

Separately, MKM Partners raised shares of Ambac Financial Group from a “sell” rating to a “neutral” rating and set a $17.00 price target for the company in a report on Friday, May 12th.

Ambac Financial Group (NASDAQ AMBC) remained flat at $18.18 on Friday. The company had a trading volume of 216,061 shares. The firm’s 50 day moving average price is $18.92 and its 200 day moving average price is $18.91. The stock’s market capitalization is $822.66 million. Ambac Financial Group has a 12-month low of $15.67 and a 12-month high of $27.25.

Ambac Financial Group (NASDAQ:AMBC) last announced its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $1.54 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.32. Ambac Financial Group had a negative net margin of 16.39% and a positive return on equity of 5.74%. The firm had revenue of $172.85 million during the quarter, compared to the consensus estimate of $127.75 million. During the same quarter last year, the firm earned $2.54 EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. Equities analysts predict that Ambac Financial Group will post $0.70 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the company. EJF Capital LLC increased its stake in shares of Ambac Financial Group by 71.0% in the first quarter. EJF Capital LLC now owns 1,261,376 shares of the financial services provider’s stock valued at $23,790,000 after buying an additional 523,550 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Ambac Financial Group by 107.3% in the first quarter. AQR Capital Management LLC now owns 867,025 shares of the financial services provider’s stock valued at $16,352,000 after buying an additional 448,694 shares during the last quarter. Evermore Global Advisors LLC increased its stake in shares of Ambac Financial Group by 34.5% in the second quarter. Evermore Global Advisors LLC now owns 964,587 shares of the financial services provider’s stock valued at $16,736,000 after buying an additional 247,634 shares during the last quarter. Sound Point Capital Management LP purchased a new stake in shares of Ambac Financial Group during the second quarter valued at about $3,567,000. Finally, Seizert Capital Partners LLC purchased a new stake in shares of Ambac Financial Group during the first quarter valued at about $2,657,000. 72.02% of the stock is owned by institutional investors and hedge funds.

About Ambac Financial Group

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.

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