Ambac Financial Group (NASDAQ:AMBC) Earns Buy Rating from BTIG Research

Ambac Financial Group (NASDAQ:AMBC)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a research report issued on Sunday, AnalystRatings.com reports. They presently have a $26.00 target price on the financial services provider’s stock. BTIG Research’s target price points to a potential upside of 40.69% from the company’s current price.

A number of other analysts have also issued reports on the company. BidaskClub upgraded Ambac Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd. MKM Partners decreased their price objective on Ambac Financial Group to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 12th. Finally, TheStreet lowered Ambac Financial Group from a “c” rating to a “d+” rating in a research note on Tuesday, May 14th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.50.

Shares of AMBC traded down $0.34 during mid-day trading on Friday, hitting $18.48. The stock had a trading volume of 396,039 shares, compared to its average volume of 228,514. The company has a market capitalization of $856.70 million, a price-to-earnings ratio of 72.39 and a beta of 1.09. The stock’s fifty day moving average price is $17.53. The company has a debt-to-equity ratio of 5.20, a quick ratio of 1.26 and a current ratio of 1.26. Ambac Financial Group has a 52 week low of $14.44 and a 52 week high of $22.42.

Ambac Financial Group (NASDAQ:AMBC) last issued its earnings results on Thursday, August 8th. The financial services provider reported $1.88 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.64 by ($0.76). The firm had revenue of $89.13 million during the quarter, compared to the consensus estimate of $76.49 million. Ambac Financial Group had a negative net margin of 78.82% and a positive return on equity of 0.71%. The business’s quarterly revenue was down 40.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share.

In related news, CAO Robert Bryan Eisman acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $15.17 per share, for a total transaction of $30,340.00. Following the purchase, the chief accounting officer now owns 22,183 shares in the company, valued at approximately $336,516.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Claude Leblanc acquired 13,500 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $16.81 per share, for a total transaction of $226,935.00. Following the completion of the purchase, the chief executive officer now owns 71,125 shares in the company, valued at approximately $1,195,611.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 29,330 shares of company stock worth $477,972. 1.60% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Quinn Opportunity Partners LLC increased its holdings in shares of Ambac Financial Group by 100.2% in the second quarter. Quinn Opportunity Partners LLC now owns 182,900 shares of the financial services provider’s stock worth $3,082,000 after purchasing an additional 91,550 shares during the last quarter. Bank of Montreal Can grew its position in Ambac Financial Group by 733.9% in the second quarter. Bank of Montreal Can now owns 4,303 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 3,787 shares in the last quarter. JPMorgan Chase & Co. grew its position in Ambac Financial Group by 1.5% in the second quarter. JPMorgan Chase & Co. now owns 347,771 shares of the financial services provider’s stock worth $5,839,000 after acquiring an additional 5,206 shares in the last quarter. Wells Fargo & Company MN grew its position in Ambac Financial Group by 0.4% in the second quarter. Wells Fargo & Company MN now owns 174,022 shares of the financial services provider’s stock worth $2,932,000 after acquiring an additional 765 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Ambac Financial Group in the second quarter worth about $348,000. Institutional investors own 79.87% of the company’s stock.

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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