Ambac Financial Group, Inc. (NYSE:AMBC) Sees Large Growth in Short Interest

Ambac Financial Group, Inc. (NYSE:AMBC - Get Free Report) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 1,910,000 shares, a growth of 16.5% from the March 31st total of 1,640,000 shares. Approximately 4.7% of the company's stock are short sold. Based on an average trading volume of 385,100 shares, the days-to-cover ratio is currently 5.0 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Ambac Financial Group from a "hold" rating to a "sell" rating in a research note on Friday.

Ambac Financial Group Stock Up 1.1 %

Shares of NYSE:AMBC traded up $0.16 during midday trading on Monday, hitting $14.75. The stock had a trading volume of 271,978 shares, compared to its average volume of 369,951. 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 business's 50-day simple moving average is $15.29 and its 200-day simple moving average is $15.05. Ambac Financial Group has a 12 month low of $11.26 and a 12 month high of $17.80. The company has a market cap of $667.00 million, a P/E ratio of 98.34 and a beta of 1.30.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $76.00 million during the quarter. During the same period last year, the firm earned $4.18 earnings per share. On average, sell-side analysts forecast that Ambac Financial Group will post 0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ambac Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of AMBC. Gladius Capital Management LP raised its stake in Ambac Financial Group by 71.3% in the third quarter. Gladius Capital Management LP now owns 2,528 shares of the company's stock valued at $30,000 after purchasing an additional 1,052 shares in the last quarter. Clearstead Advisors LLC bought a new position in Ambac Financial Group in the third quarter valued at about $72,000. Federated Hermes Inc. grew its position in Ambac Financial Group by 26.9% in the third quarter. Federated Hermes Inc. now owns 6,171 shares of the company's stock valued at $74,000 after acquiring an additional 1,309 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Ambac Financial Group during the fourth quarter worth about $165,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Ambac Financial Group in the third quarter valued at approximately $122,000. Institutional investors and hedge funds 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.