Ambac Financial Group (NYSE:AMBC) Trading Down 0.4% – Time to Sell?

Ambac Financial Group, Inc. (NYSE:AMBC)’s share price fell 0.4% during trading on Monday . The company traded as low as $8.86 and last traded at $9.04. 838,741 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 954,617 shares. The stock had previously closed at $9.08.

Analyst Ratings Changes

AMBC has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Ambac Financial Group in a report on Tuesday, November 11th. Truist Financial lifted their price objective on Ambac Financial Group from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.00.

Ambac Financial Group Price Performance

The firm has a market capitalization of $396.06 million, a PE ratio of -0.66 and a beta of 0.96. The company has a 50-day moving average price of $9.03 and a 200 day moving average price of $8.63.

Ambac Financial Group (NYSE:AMBC) last issued its earnings results on Monday, November 10th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.02. Ambac Financial Group had a negative return on equity of 3.50% and a negative net margin of 215.40%.The company had revenue of $66.61 million for the quarter, compared to the consensus estimate of $56.77 million. As a group, research analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Ambac Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC grew its stake in Ambac Financial Group by 65,933.3% during the second quarter. CWM LLC now owns 3,962 shares of the company’s stock valued at $28,000 after acquiring an additional 3,956 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Ambac Financial Group during the 2nd quarter valued at about $37,000. Russell Investments Group Ltd. grew its position in shares of Ambac Financial Group by 613.5% during the third quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock valued at $41,000 after purchasing an additional 4,227 shares in the last quarter. LM Asset IM Inc. bought a new stake in shares of Ambac Financial Group in the second quarter worth about $43,000. Finally, Cerity Partners LLC purchased a new stake in shares of Ambac Financial Group in the second quarter worth about $84,000. Institutional investors own 84.49% of the company’s stock.

About Ambac Financial Group

Ambac Financial Group, Inc (NYSE:AMBC) is a specialized financial services holding company headquartered in New York City. Through its principal subsidiary, Ambac Assurance Corporation, the company provides financial guarantee insurance and surety bonds designed to enhance the credit quality of public finance and structured finance transactions. Ambac’s offerings are tailored to municipal issuers, financial institutions and corporate borrowers, supporting infrastructure projects, energy and transportation initiatives, as well as asset-backed securities.

Ambac’s core business activities center on credit enhancement and risk-transfer solutions.