StockNews.com Downgrades Ambac Financial Group (NYSE:AMBC) to Sell

Ambac Financial Group (NYSE:AMBC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Ambac Financial Group Stock Performance

Shares of Ambac Financial Group stock opened at $14.59 on Friday. Ambac Financial Group has a 52 week low of $11.26 and a 52 week high of $17.80. The business’s fifty day simple moving average is $15.31 and its 200-day simple moving average is $15.01. The firm has a market cap of $659.76 million, a PE ratio of 97.27 and a beta of 1.30. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.46.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.03 by $0.29. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. The business had revenue of $76.00 million for the quarter. During the same period last year, the company earned $4.18 EPS. Equities analysts forecast that Ambac Financial Group will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Ambac Financial Group

Hedge funds have recently bought and sold shares of the company. Gladius Capital Management LP lifted its stake in Ambac Financial Group by 71.3% during the 3rd quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock worth $30,000 after acquiring an additional 1,052 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in Ambac Financial Group during the 3rd quarter worth about $72,000. Federated Hermes Inc. increased its holdings in Ambac Financial Group by 26.9% during the 3rd quarter. Federated Hermes Inc. now owns 6,171 shares of the company’s stock worth $74,000 after purchasing an additional 1,309 shares during the period. Victory Capital Management Inc. purchased a new stake in Ambac Financial Group during the 4th quarter worth about $165,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in Ambac Financial Group during the 3rd quarter worth about $122,000. 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.