Ambac Financial Group (NASDAQ:AMBC) Lowered to “Strong Sell” at BidaskClub

Ambac Financial Group (NASDAQ:AMBC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Wednesday, April 3rd, BidAskClub reports.

Ambac Financial Group stock traded up $0.09 during midday trading on Wednesday, reaching $18.40. The stock had a trading volume of 156,427 shares, compared to its average volume of 233,534. Ambac Financial Group has a 1-year low of $15.02 and a 1-year high of $23.34. The firm has a market cap of $834.29 million, a PE ratio of 2.82 and a beta of 0.94. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.04 and a current ratio of 1.04.

Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings results on Thursday, February 28th. The financial services provider reported $0.24 earnings per share for the quarter. The firm had revenue of $51.95 million for the quarter. Ambac Financial Group had a return on equity of 15.84% and a net margin of 36.37%.

Several large investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan bought a new position in shares of Ambac Financial Group during the 4th quarter worth approximately $226,000. Vanguard Group Inc. boosted its stake in shares of Ambac Financial Group by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,157,643 shares of the financial services provider’s stock worth $44,059,000 after acquiring an additional 15,930 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Ambac Financial Group by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 526,932 shares of the financial services provider’s stock worth $10,759,000 after acquiring an additional 14,337 shares during the period. MetLife Investment Advisors LLC boosted its stake in shares of Ambac Financial Group by 47.6% during the 3rd quarter. MetLife Investment Advisors LLC now owns 33,120 shares of the financial services provider’s stock worth $676,000 after acquiring an additional 10,676 shares during the period. Finally, Vanguard Group Inc boosted its stake in shares of Ambac Financial Group by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 2,157,643 shares of the financial services provider’s stock worth $44,059,000 after acquiring an additional 15,930 shares during the period. 84.10% of the stock is currently owned by hedge funds and other institutional investors.

About Ambac Financial Group

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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