Ambac Financial Group (NYSE:AMBC) Upgraded by Roth Mkm to “Buy”

Roth Mkm upgraded shares of Ambac Financial Group (NYSE:AMBC) from a neutral rating to a buy rating in a research note published on Wednesday, Marketbeat.com reports. Roth Mkm currently has $15.00 target price on the stock, up from their prior target price of $13.00.

Separately, StockNews.com downgraded shares of Ambac Financial Group from a hold rating to a sell rating in a report on Wednesday, August 14th.

Ambac Financial Group Stock Performance

Shares of Ambac Financial Group stock opened at $11.70 on Wednesday. The firm has a market capitalization of $529.13 million, a P/E ratio of 8.93 and a beta of 1.24. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.37. The company has a 50 day moving average price of $11.69 and a 200 day moving average price of $13.83. Ambac Financial Group has a 52 week low of $10.12 and a 52 week high of $18.45.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. The company had revenue of $105.00 million during the quarter. During the same period in the prior year, the firm earned $0.07 earnings per share. Sell-side analysts expect that Ambac Financial Group will post 1.3 EPS for the current year.

Insider Transactions at Ambac Financial Group

In other news, CFO David Trick acquired 3,700 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $10.76 per share, with a total value of $39,812.00. Following the purchase, the chief financial officer now directly owns 156,082 shares of the company’s stock, valued at $1,679,442.32. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, General Counsel Stephen Michael Ksenak acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $11.00 per share, with a total value of $55,000.00. Following the purchase, the general counsel now directly owns 116,609 shares of the company’s stock, valued at $1,282,699. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David Trick acquired 3,700 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $10.76 per share, for a total transaction of $39,812.00. Following the purchase, the chief financial officer now directly owns 156,082 shares in the company, valued at $1,679,442.32. The disclosure for this purchase can be found here. Insiders have bought 34,800 shares of company stock valued at $377,016 in the last 90 days. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ambac Financial Group

A number of institutional investors have recently added to or reduced their stakes in AMBC. Quarry LP grew its stake in Ambac Financial Group by 830.7% in the 2nd quarter. Quarry LP now owns 2,364 shares of the company’s stock valued at $30,000 after acquiring an additional 2,110 shares during the period. nVerses Capital LLC grew its stake in Ambac Financial Group by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock valued at $64,000 after acquiring an additional 4,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ambac Financial Group by 20.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock valued at $126,000 after acquiring an additional 1,637 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Ambac Financial Group by 95.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock valued at $165,000 after acquiring an additional 5,145 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in Ambac Financial Group in the 4th quarter valued at $165,000. Institutional investors and hedge funds own 84.49% of the company’s stock.

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.