Short Interest in Ambac Financial Group, Inc. (NYSE:AMBC) Rises By 8.1%

Ambac Financial Group, Inc. (NYSE:AMBC) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 3,890,000 shares, an increase of 8.1% from the October 15th total of 3,600,000 shares. Currently, 9.2% of the shares of the stock are short sold. Based on an average daily volume of 476,700 shares, the short-interest ratio is presently 8.2 days.

Analyst Upgrades and Downgrades

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

Ambac Financial Group Stock Up 0.8 %

NYSE:AMBC traded up $0.10 on Monday, hitting $12.44. The stock had a trading volume of 734,665 shares, compared to its average volume of 470,513. The business’s fifty day moving average is $11.43 and its 200 day moving average is $12.74. The company has a market cap of $590.19 million, a PE ratio of -27.04 and a beta of 1.22. The company has a quick ratio of 0.62, a current ratio of 0.58 and a debt-to-equity ratio of 2.10. Ambac Financial Group has a 52 week low of $10.12 and a 52 week high of $18.45.

Insiders Place Their Bets

In related news, Director Kristi Ann Matus purchased 2,700 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $11.27 per share, with a total value of $30,429.00. Following the completion of the purchase, the director now owns 2,700 shares in the company, valued at approximately $30,429. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning bought a new position in shares of Ambac Financial Group in the third quarter valued at approximately $156,000. Deerfield Management Company L.P. Series C bought a new position in shares of Ambac Financial Group in the second quarter valued at approximately $1,149,000. Marshall Wace LLP lifted its holdings in shares of Ambac Financial Group by 397.4% in the second quarter. Marshall Wace LLP now owns 345,715 shares of the company’s stock valued at $4,432,000 after purchasing an additional 276,210 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Ambac Financial Group by 55.1% in the third quarter. Exchange Traded Concepts LLC now owns 157,714 shares of the company’s stock valued at $1,768,000 after purchasing an additional 56,036 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Ambac Financial Group by 3.0% in the second 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. Institutional investors own 84.49% of the company’s stock.

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.