Ambac Financial Group Sees Unusually Large Options Volume (NYSE:AMBC)

Ambac Financial Group, Inc. (NYSE:AMBC) was the target of some unusual options trading on Tuesday. Traders acquired 30,144 call options on the stock. This is an increase of 996% compared to the average volume of 2,750 call options.

Ambac Financial Group Stock Down 0.6 %

AMBC stock opened at $6.60 on Wednesday. The business’s 50 day moving average price is $9.75 and its two-hundred day moving average price is $11.15. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $305.15 million, a price-to-earnings ratio of -14.35 and a beta of 1.09. Ambac Financial Group has a fifty-two week low of $6.33 and a fifty-two week high of $18.45.

Ambac Financial Group (NYSE:AMBC) last released its earnings results on Wednesday, February 26th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). The business had revenue of $18.93 million during the quarter, compared to analysts’ expectations of $24.83 million. Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. As a group, analysts forecast that Ambac Financial Group will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ambac Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of AMBC. State Street Corp boosted its holdings in shares of Ambac Financial Group by 2.6% in the third quarter. State Street Corp now owns 1,653,544 shares of the company’s stock worth $18,536,000 after buying an additional 42,504 shares during the last quarter. Geode Capital Management LLC increased its holdings in Ambac Financial Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,046,510 shares of the company’s stock worth $13,242,000 after acquiring an additional 17,554 shares in the last quarter. Wolf Hill Capital Management LP purchased a new position in Ambac Financial Group during the fourth quarter valued at approximately $12,650,000. American Century Companies Inc. lifted its stake in shares of Ambac Financial Group by 3.9% during the 4th quarter. American Century Companies Inc. now owns 929,345 shares of the company’s stock valued at $11,756,000 after buying an additional 34,861 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Ambac Financial Group by 65.5% in the 4th quarter. Nuveen Asset Management LLC now owns 824,357 shares of the company’s stock worth $10,428,000 after buying an additional 326,149 shares during the period. 84.49% of the stock is owned by 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.