Ambac Financial Group (NASDAQ:AMBC) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Ambac Financial Group (NASDAQ:AMBC) from a strong sell rating to a sell rating in a report issued on Wednesday morning, BidAskClub reports.

Separately, TheStreet cut Ambac Financial Group from a c rating to a d+ rating in a research report on Tuesday, May 14th.

Shares of AMBC opened at $14.54 on Wednesday. The company has a debt-to-equity ratio of 5.20, a current ratio of 1.26 and a quick ratio of 1.26. Ambac Financial Group has a 52 week low of $14.44 and a 52 week high of $23.34.

Ambac Financial Group (NASDAQ:AMBC) last issued its quarterly earnings results on Thursday, May 9th. The financial services provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The company had revenue of $100.37 million during the quarter, compared to analysts’ expectations of $79.65 million. Ambac Financial Group had a negative return on equity of 2.12% and a negative net margin of 37.35%. During the same quarter in the previous year, the company earned $7.22 EPS.

In other Ambac Financial Group news, CEO Claude Leblanc bought 13,500 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $16.81 per share, for a total transaction of $226,935.00. Following the completion of the transaction, the chief executive officer now owns 71,125 shares of the company’s stock, valued at approximately $1,195,611.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Trick bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $16.68 per share, with a total value of $50,040.00. Following the transaction, the chief financial officer now directly owns 53,713 shares of the company’s stock, valued at approximately $895,932.84. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 29,330 shares of company stock valued at $477,972. Company insiders own 1.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of Ambac Financial Group by 0.6% during the first quarter. BlackRock Inc. now owns 6,228,076 shares of the financial services provider’s stock worth $112,852,000 after purchasing an additional 37,500 shares in the last quarter. EJF Capital LLC grew its position in shares of Ambac Financial Group by 17.9% during the fourth quarter. EJF Capital LLC now owns 2,092,365 shares of the financial services provider’s stock worth $36,072,000 after purchasing an additional 317,979 shares in the last quarter. Raging Capital Management LLC grew its position in shares of Ambac Financial Group by 295.2% during the fourth quarter. Raging Capital Management LLC now owns 1,514,355 shares of the financial services provider’s stock worth $26,107,000 after purchasing an additional 1,131,186 shares in the last quarter. Man Group plc grew its position in shares of Ambac Financial Group by 0.9% during the first quarter. Man Group plc now owns 761,700 shares of the financial services provider’s stock worth $13,803,000 after purchasing an additional 6,584 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Ambac Financial Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 645,588 shares of the financial services provider’s stock worth $11,130,000 after purchasing an additional 118,656 shares in the last quarter. Hedge funds and other institutional investors own 80.80% of the company’s stock.

About Ambac Financial Group

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to public and private sector clients in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; and credit derivative contracts and Interest rate derivative transactions.

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