Ambac Financial Group (NYSE:AMBC) Rating Increased to Buy at Compass Point

Posted by on Aug 10th, 2023

Ambac Financial Group (NYSE:AMBC – Get Free Report) was upgraded by equities research analysts at Compass Point from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat reports. The brokerage presently has a $18.00 target price on the stock. Compass Point’s price objective points to a potential upside of 27.84% from the stock’s current price.

Separately, StockNews.com downgraded Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th.

Check Out Our Latest Research Report on AMBC

Ambac Financial Group Price Performance

NYSE:AMBC opened at $14.08 on Tuesday. The company has a debt-to-equity ratio of 2.72, a current ratio of 0.76 and a quick ratio of 0.76. Ambac Financial Group has a one year low of $12.03 and a one year high of $17.75. The company has a fifty day moving average price of $14.05 and a 200 day moving average price of $14.89. The stock has a market cap of $638.13 million, a P/E ratio of 1.32 and a beta of 1.13.

Ambac Financial Group (NYSE:AMBC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.13. Ambac Financial Group had a net margin of 109.98% and a return on equity of 46.53%. The business had revenue of $62.00 million during the quarter, compared to analyst estimates of $48.80 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. Analysts anticipate that Ambac Financial Group will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On Ambac Financial Group

A number of institutional investors have recently added to or reduced their stakes in AMBC. Natixis Advisors L.P. bought a new position in shares of Ambac Financial Group during the 4th quarter worth approximately $211,000. Brandywine Global Investment Management LLC lifted its holdings in shares of Ambac Financial Group by 70.8% during the fourth quarter. Brandywine Global Investment Management LLC now owns 85,614 shares of the company’s stock valued at $1,493,000 after acquiring an additional 35,495 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of Ambac Financial Group by 33.0% during the first quarter. Texas Permanent School Fund Corp now owns 40,018 shares of the company’s stock valued at $619,000 after acquiring an additional 9,932 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Ambac Financial Group in the 4th quarter valued at $872,000. Finally, GSA Capital Partners LLP grew its holdings in shares of Ambac Financial Group by 142.2% in the 4th quarter. GSA Capital Partners LLP now owns 65,425 shares of the company’s stock worth $1,141,000 after purchasing an additional 38,413 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

About Ambac Financial Group

(Get Free Report)

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.

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