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

Ambac Financial Group, Inc. (NYSE:AMBC) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 3,450,000 shares, an increase of 20.6% from the February 28th total of 2,860,000 shares. Based on an average daily volume of 926,100 shares, the days-to-cover ratio is presently 3.7 days. Approximately 8.2% of the company’s shares are short sold.

Institutional Investors Weigh In On Ambac Financial Group

Several large investors have recently modified their holdings of AMBC. California State Teachers Retirement System lifted its holdings in Ambac Financial Group by 3.9% during the fourth quarter. California State Teachers Retirement System now owns 44,277 shares of the company’s stock worth $560,000 after buying an additional 1,651 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ambac Financial Group by 23.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,034 shares of the company’s stock worth $2,455,000 after acquiring an additional 37,067 shares in the last quarter. Western Standard LLC lifted its stake in shares of Ambac Financial Group by 64.3% during the 4th quarter. Western Standard LLC now owns 453,530 shares of the company’s stock worth $5,737,000 after purchasing an additional 177,567 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Ambac Financial Group during the 4th quarter worth $267,000. Finally, Two Sigma Investments LP grew its stake in Ambac Financial Group by 41.1% in the fourth quarter. Two Sigma Investments LP now owns 132,295 shares of the company’s stock valued at $1,674,000 after purchasing an additional 38,540 shares during the last quarter. Institutional investors own 84.49% of the company’s stock.

Ambac Financial Group Trading Down 6.0 %

Shares of NYSE AMBC traded down $0.50 during mid-day trading on Thursday, reaching $7.77. The company had a trading volume of 223,960 shares, compared to its average volume of 629,644. The stock has a market cap of $359.07 million, a price-to-earnings ratio of -16.88 and a beta of 1.26. Ambac Financial Group has a 52 week low of $7.77 and a 52 week high of $18.45. The business’s 50-day moving average is $10.20 and its 200-day moving average is $11.31. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). The firm had revenue of $18.93 million during the quarter, compared to analysts’ expectations of $24.83 million. Ambac Financial Group had a negative net margin of 6.28% and a positive return on equity of 2.51%. Equities analysts expect that Ambac Financial Group will post 0.6 earnings per share for the current year.

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.