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

Ambac Financial Group, Inc. (NYSE:AMBC - Get Free Report) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 2,130,000 shares, a growth of 11.5% from the April 15th total of 1,910,000 shares. Based on an average trading volume of 421,000 shares, the short-interest ratio is currently 5.1 days. Approximately 5.2% of the company's shares are sold short.

Ambac Financial Group Stock Up 0.3 %

Shares of AMBC traded up $0.05 during mid-day trading on Friday, reaching $18.10. 499,032 shares of the stock traded hands, compared to its average volume of 386,672. The firm has a market cap of $818.48 million, a price-to-earnings ratio of 13.78 and a beta of 1.30. The stock has a fifty day simple moving average of $15.51 and a 200 day simple moving average of $15.48. Ambac Financial Group has a 12-month low of $11.26 and a 12-month high of $18.45. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 2.42.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.61. The company had revenue of $103.00 million for the quarter. Ambac Financial Group had a net margin of 18.09% and a return on equity of 10.69%. During the same quarter in the prior year, the business earned ($0.30) EPS. Sell-side analysts expect that Ambac Financial Group will post 1.45 EPS for the current fiscal year.

Institutional Trading of Ambac Financial Group

Hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP raised its stake in shares of Ambac Financial Group by 71.3% during 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 during the period. Clearstead Advisors LLC bought a new stake in shares of Ambac Financial Group in the third quarter worth $72,000. Federated Hermes Inc. increased its stake in shares of Ambac Financial Group by 26.9% in the third quarter. Federated Hermes Inc. now owns 6,171 shares of the company's stock worth $74,000 after buying an additional 1,309 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Ambac Financial Group in the fourth quarter worth $165,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of Ambac Financial Group in the third quarter worth $122,000. Hedge funds and other institutional investors own 84.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Compass Point lifted their price target on shares of Ambac Financial Group from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday, May 8th. StockNews.com raised shares of Ambac Financial Group from a "sell" rating to a "hold" rating in a research report on Tuesday.

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.