Ambac Financial Group (NYSE:AMBC) Hits New 12-Month High at $18.38

Ambac Financial Group, Inc. (NYSE:AMBC) shares hit a new 52-week high on Wednesday . The stock traded as high as $18.38 and last traded at $18.10, with a volume of 190799 shares. The stock had previously closed at $18.04.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Ambac Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday.

Ambac Financial Group Stock Performance

The company has a market cap of $825.72 million, a PE ratio of 120.27 and a beta of 1.30. The stock’s 50-day simple moving average is $15.16 and its 200 day simple moving average is $15.21. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.72 and a current ratio of 0.72.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.61. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. The firm had revenue of $103.00 million during the quarter. During the same quarter in the previous year, the business earned ($0.30) EPS. As a group, equities analysts anticipate that Ambac Financial Group, Inc. will post 0.45 EPS for the current year.

Hedge Funds Weigh In On Ambac Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP boosted its holdings in Ambac Financial Group by 71.3% during the third quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock worth $30,000 after buying an additional 1,052 shares in the last quarter. Clearstead Advisors LLC acquired a new stake in shares of Ambac Financial Group in the 3rd quarter worth approximately $72,000. Federated Hermes Inc. increased its stake in Ambac Financial Group by 26.9% in the 3rd quarter. Federated Hermes Inc. now owns 6,171 shares of the company’s stock valued at $74,000 after purchasing an additional 1,309 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in Ambac Financial Group during the third quarter worth $122,000. Finally, Victory Capital Management Inc. acquired a new position in Ambac Financial Group during the fourth quarter worth $165,000. 84.49% of the stock is owned by institutional investors and hedge funds.

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.