Ambac Financial Group, Inc. (NYSE:AMBC) Sees Significant Increase in Short Interest

Ambac Financial Group, Inc. (NYSE:AMBC) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 4,420,000 shares, an increase of 13.6% from the October 31st total of 3,890,000 shares. Based on an average trading volume of 556,200 shares, the days-to-cover ratio is presently 7.9 days. Currently, 10.4% of the company’s stock are short sold.

Ambac Financial Group Trading Down 0.7 %

AMBC traded down $0.09 on Tuesday, hitting $12.72. The company had a trading volume of 295,926 shares, compared to its average volume of 469,282. The company has a market cap of $603.44 million, a PE ratio of -27.28 and a beta of 1.25. Ambac Financial Group has a 12-month low of $10.12 and a 12-month high of $18.45. The business’s fifty day simple moving average is $11.73 and its 200 day simple moving average is $12.40. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.10.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Ambac Financial Group news, Director Kristi Ann Matus bought 2,700 shares of Ambac Financial Group stock in a transaction on Thursday, September 26th. The stock was acquired at an average price of $11.27 per share, with a total value of $30,429.00. Following the acquisition, the director now owns 2,700 shares in the company, valued at approximately $30,429. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ambac Financial Group

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Ambac Financial Group by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,952,961 shares of the company’s stock worth $37,857,000 after purchasing an additional 87,077 shares in the last quarter. State Street Corp raised its holdings in shares of Ambac Financial Group by 2.6% in the third quarter. State Street Corp now owns 1,653,544 shares of the company’s stock worth $18,536,000 after buying an additional 42,504 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ambac Financial Group by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,028,956 shares of the company’s stock valued at $11,537,000 after buying an additional 28,573 shares during the last quarter. American Century Companies Inc. increased its position in shares of Ambac Financial Group by 19.0% in the 2nd quarter. American Century Companies Inc. now owns 797,096 shares of the company’s stock valued at $10,219,000 after acquiring an additional 127,145 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in Ambac Financial Group by 19.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 744,750 shares of the company’s stock valued at $8,349,000 after purchasing an additional 123,360 shares during the last quarter. 84.49% of the stock is currently owned by institutional investors.

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.