Ambac Financial Group (NYSE:AMBC) Shares Gap Up – Should You Buy?

Ambac Financial Group, Inc. (NYSE:AMBC)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $11.70, but opened at $13.09. Ambac Financial Group shares last traded at $12.36, with a volume of 149,975 shares trading hands.

Analyst Upgrades and Downgrades

AMBC has been the topic of several recent analyst reports. StockNews.com lowered Ambac Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Roth Capital raised Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Roth Mkm raised Ambac Financial Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.00 to $15.00 in a report on Wednesday, September 18th.

Ambac Financial Group Stock Performance

The firm has a fifty day simple moving average of $11.36 and a 200-day simple moving average of $12.80. The company has a market cap of $574.04 million, a PE ratio of -26.30 and a beta of 1.22. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.37.

Insiders Place Their Bets

In other news, Director Kristi Ann Matus acquired 2,700 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were bought at an average price of $11.27 per share, with a total value of $30,429.00. Following the completion of the acquisition, the director now owns 2,700 shares in the company, valued at $30,429. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Ambac Financial Group

Several hedge funds have recently made changes to their positions in AMBC. Dimensional Fund Advisors LP boosted its stake in shares of Ambac Financial Group by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,952,961 shares of the company’s stock worth $37,857,000 after buying an additional 87,077 shares during the period. American Century Companies Inc. boosted its stake in shares of Ambac Financial Group by 19.0% during the second quarter. American Century Companies Inc. now owns 797,096 shares of the company’s stock worth $10,219,000 after buying an additional 127,145 shares during the period. Gendell Jeffrey L boosted its stake in shares of Ambac Financial Group by 118.0% during the first quarter. Gendell Jeffrey L now owns 434,313 shares of the company’s stock worth $6,788,000 after buying an additional 235,058 shares during the period. Marshall Wace LLP boosted its stake in shares of Ambac Financial Group by 397.4% during the second quarter. Marshall Wace LLP now owns 345,715 shares of the company’s stock worth $4,432,000 after buying an additional 276,210 shares during the period. Finally, Empowered Funds LLC boosted its stake in shares of Ambac Financial Group by 5.3% during the third quarter. Empowered Funds LLC now owns 172,849 shares of the company’s stock worth $1,938,000 after buying an additional 8,710 shares during the period. Hedge funds and other institutional investors own 84.49% of the company’s stock.

Ambac Financial Group Company Profile

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.