Ambac Financial Group, Inc. (NYSE:AMBC) Short Interest Update

Ambac Financial Group, Inc. (NYSE:AMBC) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 2,340,000 shares, a drop of 32.2% from the March 15th total of 3,450,000 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 5.6% of the company’s shares are sold short.

Ambac Financial Group Trading Up 2.5 %

Shares of Ambac Financial Group stock traded up $0.18 on Friday, hitting $7.31. The stock had a trading volume of 970,400 shares, compared to its average volume of 669,592. The stock has a 50 day moving average of $8.92 and a 200 day moving average of $10.88. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.58 and a current ratio of 0.58. Ambac Financial Group has a twelve month low of $6.33 and a twelve month high of $18.45. The firm has a market capitalization of $373.22 million, a P/E ratio of -15.88 and a beta of 1.09.

Ambac Financial Group (NYSE:AMBC) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.18). The business had revenue of $18.93 million during the quarter, compared to the consensus estimate of $24.83 million. Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. Sell-side analysts expect that Ambac Financial Group will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ambac Financial Group

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

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.