Ambac Financial Group (AMBC) Cut to D+ at TheStreet

Ambac Financial Group (NASDAQ:AMBC) was downgraded by equities researchers at TheStreet from a “c” rating to a “d+” rating in a research report issued to clients and investors on Tuesday, TheStreetRatingsTable reports.

Separately, BidaskClub cut Ambac Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd.

Shares of AMBC stock opened at $16.96 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 5.20. Ambac Financial Group has a 12-month low of $15.02 and a 12-month high of $23.34.

Ambac Financial Group (NASDAQ:AMBC) last released its earnings results on Thursday, May 9th. The financial services provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Ambac Financial Group had a negative net margin of 37.35% and a negative return on equity of 2.12%. The company had revenue of $100.37 million during the quarter, compared to the consensus estimate of $79.65 million. During the same period last year, the firm posted $7.22 EPS.

In other news, CEO Claude Leblanc acquired 13,500 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $16.81 per share, for a total transaction of $226,935.00. Following the completion of the transaction, the chief executive officer now directly owns 71,125 shares in the company, valued at approximately $1,195,611.25. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO David Trick acquired 3,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $16.68 per share, with a total value of $50,040.00. Following the transaction, the chief financial officer now owns 53,713 shares of the company’s stock, valued at $895,932.84. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMBC. Asset Dedication LLC purchased a new position in shares of Ambac Financial Group during the first quarter worth approximately $25,000. Macquarie Group Ltd. grew its holdings in Ambac Financial Group by 183.3% in the fourth quarter. Macquarie Group Ltd. now owns 1,700 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,100 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Ambac Financial Group by 104.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock worth $31,000 after buying an additional 892 shares during the period. Pearl River Capital LLC acquired a new stake in shares of Ambac Financial Group during the fourth quarter worth $43,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Ambac Financial Group during the fourth quarter worth $179,000. 84.07% of the stock is owned by institutional investors and hedge funds.

Ambac Financial Group Company Profile

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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