Ambac Financial Group (NYSE:AMBC) Upgraded to “Buy” at Roth Mkm

Ambac Financial Group (NYSE:AMBC) was upgraded by equities research analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, FinViz reports. The brokerage presently has a $15.00 price objective on the stock, up from their prior price objective of $13.00. Roth Mkm’s price objective points to a potential upside of 34.29% from the company’s current price.

Separately, StockNews.com lowered shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th.

Ambac Financial Group Trading Up 0.6 %

Shares of NYSE:AMBC opened at $11.17 on Wednesday. The company has a market capitalization of $505.16 million, a PE ratio of 8.53 and a beta of 1.24. Ambac Financial Group has a 12-month low of $10.12 and a 12-month high of $18.45. The business has a 50 day moving average of $11.71 and a two-hundred day moving average of $13.87. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.37.

Ambac Financial Group (NYSE:AMBC) last posted its earnings results on Monday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $105.00 million during the quarter. Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. During the same period in the prior year, the company posted $0.07 EPS. As a group, analysts forecast that Ambac Financial Group will post 1.3 EPS for the current year.

Insider Transactions at Ambac Financial Group

In related news, CFO David Trick purchased 3,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $10.76 per share, with a total value of $39,812.00. Following the purchase, the chief financial officer now owns 156,082 shares of the company’s stock, valued at $1,679,442.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO David Trick purchased 3,700 shares of Ambac Financial Group stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $10.76 per share, for a total transaction of $39,812.00. Following the transaction, the chief financial officer now directly owns 156,082 shares in the company, valued at $1,679,442.32. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Stephen Michael Ksenak acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $11.00 per share, for a total transaction of $55,000.00. Following the completion of the acquisition, the general counsel now owns 116,609 shares in the company, valued at approximately $1,282,699. The disclosure for this purchase can be found here. Insiders acquired a total of 34,800 shares of company stock valued at $377,016 in the last three months. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Ambac Financial Group

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Ambac Financial Group by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,952,961 shares of the company’s stock valued at $37,857,000 after purchasing an additional 87,077 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Ambac Financial Group by 19.0% in the second quarter. American Century Companies Inc. now owns 797,096 shares of the company’s stock worth $10,219,000 after buying an additional 127,145 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ambac Financial Group by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,577 shares of the company’s stock worth $10,705,000 after buying an additional 9,493 shares in the last quarter. Gendell Jeffrey L boosted its position in Ambac Financial Group by 118.0% during the first quarter. Gendell Jeffrey L now owns 434,313 shares of the company’s stock worth $6,788,000 after acquiring an additional 235,058 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Ambac Financial Group by 397.4% during the 2nd quarter. Marshall Wace LLP now owns 345,715 shares of the company’s stock valued at $4,432,000 after acquiring an additional 276,210 shares in the last quarter. 84.49% of the stock is owned by institutional investors and hedge funds.

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.