Ambac Financial Group (NASDAQ:AMBC) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Ambac Financial Group (NASDAQ:AMBC) from a hold rating to a buy rating in a research note issued to investors on Friday, BidAskClub reports.

Several other equities analysts have also commented on AMBC. MKM Partners reduced their target price on shares of Ambac Financial Group to $15.00 and set a neutral rating on the stock in a report on Wednesday, June 12th. BTIG Research reaffirmed a buy rating and set a $26.00 target price on shares of Ambac Financial Group in a report on Sunday, August 11th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Ambac Financial Group currently has a consensus rating of Buy and an average target price of $23.00.

AMBC stock opened at $19.65 on Friday. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.33 and a current ratio of 1.33. Ambac Financial Group has a 52 week low of $14.44 and a 52 week high of $21.49. The firm’s fifty day moving average is $18.70 and its 200 day moving average is $17.83. The firm has a market cap of $826.51 million, a P/E ratio of 76.27 and a beta of 1.07.



Ambac Financial Group (NASDAQ:AMBC) last released its earnings results on Thursday, August 8th. The financial services provider reported $1.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.64 by ($0.76). Ambac Financial Group had a negative net margin of 78.82% and a positive return on equity of 0.72%. The business had revenue of $89.13 million for the quarter, compared to the consensus estimate of $76.49 million. During the same period in the prior year, the business posted $0.78 EPS. Ambac Financial Group’s revenue for the quarter was down 40.8% on a year-over-year basis.

A number of institutional investors and hedge funds have recently made changes to their positions in AMBC. Raging Capital Management LLC boosted its position in Ambac Financial Group by 38.4% during the 2nd quarter. Raging Capital Management LLC now owns 1,884,032 shares of the financial services provider’s stock valued at $31,746,000 after buying an additional 522,677 shares during the period. CQS Cayman LP boosted its position in Ambac Financial Group by 83.9% during the 2nd quarter. CQS Cayman LP now owns 800,010 shares of the financial services provider’s stock valued at $13,481,000 after buying an additional 365,010 shares during the period. Morgan Stanley boosted its position in Ambac Financial Group by 39.7% during the 2nd quarter. Morgan Stanley now owns 877,433 shares of the financial services provider’s stock valued at $14,783,000 after buying an additional 249,229 shares during the period. Nuveen Asset Management LLC purchased a new stake in Ambac Financial Group during the 2nd quarter valued at $3,017,000. Finally, Marble Ridge Capital LP purchased a new stake in Ambac Financial Group during the 2nd quarter valued at $2,150,000. 82.19% of the stock is owned by institutional investors and hedge funds.

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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