Ambac Financial Group (NYSE:AMBC) Downgraded by StockNews.com
Ambac Financial Group (NYSE:AMBC – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
Ambac Financial Group Stock Performance
Ambac Financial Group stock opened at $16.26 on Tuesday. The company’s 50-day moving average price is $13.28 and its 200-day moving average price is $13.49. Ambac Financial Group has a twelve month low of $11.26 and a twelve month high of $17.75. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.43. The company has a market cap of $734.79 million, a PE ratio of 3.83 and a beta of 1.24.
Ambac Financial Group (NYSE:AMBC – Get Free Report) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of ($0.10) by $2.10. The company had revenue of $74.00 million for the quarter. Ambac Financial Group had a net margin of 47.26% and a return on equity of 20.87%. During the same quarter in the previous year, the company posted $7.37 earnings per share. On average, equities research analysts forecast that Ambac Financial Group will post 1.8 EPS for the current fiscal year.
Institutional Investors Weigh In On Ambac Financial Group
Several hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its position in Ambac Financial Group by 20.6% during the third quarter. American Century Companies Inc. now owns 427,678 shares of the company’s stock valued at $5,158,000 after acquiring an additional 73,191 shares during the last quarter. Graham Capital Management L.P. acquired a new position in Ambac Financial Group during the third quarter valued at $244,000. Comerica Bank acquired a new position in Ambac Financial Group during the third quarter valued at $250,000. GTS Securities LLC acquired a new position in Ambac Financial Group during the third quarter valued at $155,000. Finally, Sei Investments Co. acquired a new position in Ambac Financial Group during the third quarter valued at $198,000. Hedge funds and other institutional investors own 81.68% of the company’s stock.
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.
Further Reading
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Original: MarketBeat News Feed: Ambac Financial Group (NYSE:AMBC) Downgraded by StockNews.com