Ambac Financial Group, Inc. (NYSE:AMBC) Short Interest Down 13.2% in March

Ambac Financial Group, Inc. (NYSE:AMBC) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 1,640,000 shares, a decrease of 13.2% from the March 15th total of 1,890,000 shares. Based on an average daily trading volume, of 371,100 shares, the days-to-cover ratio is presently 4.4 days. Approximately 4.0% of the shares of the stock are sold short.

Institutional Investors Weigh In On Ambac Financial Group

A number of large investors have recently modified their holdings of AMBC. Point72 Hong Kong Ltd bought a new position in shares of Ambac Financial Group in the 1st quarter valued at $26,000. Gyon Technologies Capital Management LP bought a new position in shares of Ambac Financial Group in the 4th quarter valued at $28,000. Gladius Capital Management LP lifted its stake in shares of Ambac Financial Group by 71.3% in the 3rd quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock valued at $30,000 after acquiring an additional 1,052 shares during the last quarter. Quarry LP lifted its stake in shares of Ambac Financial Group by 75.1% in the 1st quarter. Quarry LP now owns 2,660 shares of the company’s stock valued at $41,000 after acquiring an additional 1,141 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in Ambac Financial Group during the 1st quarter worth $45,000. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Price Performance

NYSE:AMBC traded down $0.09 during trading hours on Tuesday, reaching $14.23. 299,960 shares of the company were exchanged, compared to its average volume of 376,441. The business has a 50 day moving average of $15.52 and a 200 day moving average of $14.90. The company has a market capitalization of $643.48 million, a P/E ratio of 94.87 and a beta of 1.30. Ambac Financial Group has a 1-year low of $11.26 and a 1-year high of $17.80. The company has a debt-to-equity ratio of 2.46, a current ratio of 0.72 and a quick ratio of 0.72.

Ambac Financial Group (NYSE:AMBC) last issued its earnings results on Wednesday, February 28th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.29. The firm had revenue of $76.00 million for the quarter. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. During the same period in the prior year, the business posted $4.18 EPS. Research analysts forecast that Ambac Financial Group will post 0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Ambac Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, April 8th.

Ambac Financial Group Company Profile

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.