Ambac Financial Group, Inc. (NYSE:AMBC) Short Interest Down 24.1% in May

Ambac Financial Group, Inc. (NYSE:AMBC) saw a large decrease in short interest in May. As of May 15th, there was short interest totalling 2,110,000 shares, a decrease of 24.1% from the April 30th total of 2,780,000 shares. Based on an average trading volume of 1,340,000 shares, the short-interest ratio is currently 1.6 days. Currently, 5.0% of the company’s stock are sold short.

Ambac Financial Group Price Performance

Shares of NYSE AMBC opened at $7.86 on Monday. Ambac Financial Group has a 12-month low of $5.99 and a 12-month high of $18.40. The stock’s fifty day simple moving average is $7.68 and its two-hundred day simple moving average is $10.11. The stock has a market capitalization of $364.92 million, a PE ratio of -17.09 and a beta of 0.86. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10.

Ambac Financial Group (NYSE:AMBC) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Ambac Financial Group had a negative net margin of 6.28% and a positive return on equity of 2.51%. The company had revenue of $15.68 million for the quarter, compared to the consensus estimate of $33.00 million. As a group, analysts expect that Ambac Financial Group will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ambac Financial Group news, Director Jeffrey Scott Stein acquired 15,000 shares of Ambac Financial Group stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $6.46 per share, with a total value of $96,900.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $323,000. This represents a 42.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.20% of the stock is owned by company insiders.

Institutional Trading of Ambac Financial Group

Several hedge funds have recently modified their holdings of the company. Empowered Funds LLC grew its position in shares of Ambac Financial Group by 7.4% in the 1st quarter. Empowered Funds LLC now owns 195,127 shares of the company’s stock worth $1,707,000 after buying an additional 13,494 shares during the last quarter. Caxton Associates LLP purchased a new stake in Ambac Financial Group during the first quarter valued at approximately $574,000. Dynamic Technology Lab Private Ltd acquired a new stake in Ambac Financial Group in the first quarter valued at approximately $562,000. Petrus Trust Company LTA purchased a new position in Ambac Financial Group in the first quarter worth $170,000. Finally, Millennium Management LLC increased its position in shares of Ambac Financial Group by 142.7% during the first quarter. Millennium Management LLC now owns 508,686 shares of the company’s stock worth $4,451,000 after purchasing an additional 299,094 shares in the last quarter. 84.49% of the stock is owned by hedge funds and other institutional investors.

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.