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

Ambac Financial Group, Inc. (NYSE:AMBC) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,890,000 shares, a growth of 8.1% from the October 15th total of 3,600,000 shares. Currently, 9.2% of the shares of the stock are sold short. Based on an average daily volume of 476,700 shares, the short-interest ratio is currently 8.2 days.

Ambac Financial Group Stock Performance

Shares of NYSE AMBC opened at $12.44 on Tuesday. The firm has a 50 day moving average price of $11.43 and a 200 day moving average price of $12.74. 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 52-week low of $10.12 and a 52-week high of $18.45.

Insider Activity at Ambac Financial Group

In related news, Director Kristi Ann Matus bought 2,700 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was bought at an average cost of $11.27 per share, with a total value of $30,429.00. Following the completion of the purchase, the director now owns 2,700 shares in the company, valued at approximately $30,429. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMBC. Allspring Global Investments Holdings LLC lifted its stake in Ambac Financial Group by 95.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock valued at $165,000 after buying an additional 5,145 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Ambac Financial Group by 55.3% in the first quarter. BNP Paribas Financial Markets now owns 23,370 shares of the company’s stock valued at $365,000 after buying an additional 8,318 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Ambac Financial Group by 2.0% in the first quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock worth $618,000 after purchasing an additional 770 shares in the last quarter. Sei Investments Co. lifted its position in shares of Ambac Financial Group by 30.1% in the first quarter. Sei Investments Co. now owns 29,714 shares of the company’s stock worth $464,000 after purchasing an additional 6,879 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Ambac Financial Group by 27.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,040 shares of the company’s stock worth $248,000 after purchasing an additional 3,410 shares in the last quarter. Institutional investors own 84.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Roth Capital upgraded shares of Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. StockNews.com cut shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, Roth Mkm upgraded shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th.

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.