Ambac Financial Group (AMBC) Upgraded at BidaskClub

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Ambac Financial Group (NASDAQ:AMBC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, MKM Partners boosted their price objective on Ambac Financial Group to $20.00 and gave the company a “neutral” rating in a research report on Friday, June 29th.

Shares of AMBC opened at $18.97 on Thursday. The company has a debt-to-equity ratio of 6.90, a current ratio of 0.99 and a quick ratio of 0.99. Ambac Financial Group has a 52-week low of $13.17 and a 52-week high of $23.34. The company has a market capitalization of $925.68 million, a P/E ratio of 4.24 and a beta of 1.75.

Ambac Financial Group (NASDAQ:AMBC) last issued its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.21. Ambac Financial Group had a return on equity of 11.70% and a net margin of 15.40%. The business had revenue of $150.64 million during the quarter, compared to analyst estimates of $146.37 million. During the same period in the previous year, the firm earned $1.54 EPS. Ambac Financial Group’s quarterly revenue was down 12.9% compared to the same quarter last year.

Large investors have recently added to or reduced their stakes in the business. Glen Harbor Capital Management LLC acquired a new position in Ambac Financial Group during the 2nd quarter worth approximately $115,000. SG3 Management LLC boosted its position in Ambac Financial Group by 160.0% during the 2nd quarter. SG3 Management LLC now owns 7,500 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 20,000 shares during the last quarter. Globeflex Capital L P acquired a new position in Ambac Financial Group during the 2nd quarter worth approximately $159,000. Meadow Creek Investment Management LLC acquired a new position in Ambac Financial Group during the 2nd quarter worth approximately $178,000. Finally, Algert Global LLC acquired a new position in Ambac Financial Group during the 2nd quarter worth approximately $199,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Ambac Financial Group Company Profile

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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