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

Ambac Financial Group, Inc. (NYSE:AMBC - Get Free Report) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 2,110,000 shares, a drop of 24.1% from the April 30th total of 2,780,000 shares. Currently, 5.0% of the company's stock are sold short. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is presently 1.6 days.

Ambac Financial Group Stock Down 0.5%

Shares of AMBC stock traded down $0.04 on Thursday, hitting $7.51. The company's stock had a trading volume of 654,796 shares, compared to its average volume of 761,574. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58. Ambac Financial Group has a fifty-two week low of $5.99 and a fifty-two week high of $18.40. The firm's fifty day moving average price is $7.62 and its 200-day moving average price is $10.05. The stock has a market capitalization of $348.67 million, a price-to-earnings ratio of -16.33 and a beta of 0.86.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. The company had revenue of $15.68 million during the quarter, compared to analyst estimates of $33.00 million. Research analysts anticipate that Ambac Financial Group will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other Ambac Financial Group news, Director Jeffrey Scott Stein bought 15,000 shares of Ambac Financial Group stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $6.46 per share, for a total transaction of $96,900.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company's stock, valued at $323,000. The trade was a 42.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.20% of the company's stock.

Institutional Trading of Ambac Financial Group

Institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Ambac Financial Group by 3.9% during the fourth quarter. California State Teachers Retirement System now owns 44,277 shares of the company's stock valued at $560,000 after buying an additional 1,651 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ambac Financial Group by 8.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,807 shares of the company's stock worth $326,000 after acquiring an additional 1,958 shares during the period. Bank of Montreal Can boosted its position in shares of Ambac Financial Group by 19.5% during the 4th quarter. Bank of Montreal Can now owns 12,357 shares of the company's stock valued at $156,000 after acquiring an additional 2,018 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Ambac Financial Group by 9.2% during the 4th quarter. MetLife Investment Management LLC now owns 26,838 shares of the company's stock valued at $340,000 after acquiring an additional 2,269 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Ambac Financial Group by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 4,463 shares of the company's stock valued at $39,000 after acquiring an additional 2,934 shares in the last quarter. 84.49% of the stock is currently owned by institutional investors and hedge funds.

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.