Ambac Financial Group, Inc. (NYSE:AMBC) Short Interest Up 8.1% in October

Ambac Financial Group, Inc. (NYSE:AMBC) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 3,890,000 shares, an increase of 8.1% from the October 15th total of 3,600,000 shares. Currently, 9.2% of the company’s shares are sold short. Based on an average daily volume of 476,700 shares, the days-to-cover ratio is currently 8.2 days.

Insider Buying and Selling

In other Ambac Financial Group news, Director Kristi Ann Matus bought 2,700 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $11.27 per share, with a total value of $30,429.00. Following the transaction, the director now owns 2,700 shares in the company, valued at $30,429. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Ambac Financial Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund Corp boosted its stake in shares of Ambac Financial Group by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock valued at $618,000 after buying an additional 770 shares during the last quarter. PDT Partners LLC boosted its stake in shares of Ambac Financial Group by 1.7% during the 3rd quarter. PDT Partners LLC now owns 63,382 shares of the company’s stock valued at $711,000 after buying an additional 1,032 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Ambac Financial Group by 0.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 172,656 shares of the company’s stock valued at $1,935,000 after buying an additional 1,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ambac Financial Group by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock valued at $126,000 after buying an additional 1,637 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Ambac Financial Group by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,405 shares of the company’s stock valued at $601,000 after buying an additional 1,861 shares during the last quarter. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

Ambac Financial Group Stock Up 0.8 %

Shares of NYSE:AMBC opened at $12.44 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.58 and a debt-to-equity ratio of 2.10. Ambac Financial Group has a 52-week low of $10.12 and a 52-week high of $18.45. The company has a 50 day moving average of $11.43 and a two-hundred day moving average of $12.74. The company has a market capitalization of $590.19 million, a price-to-earnings ratio of -27.04 and a beta of 1.22.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMBC shares. StockNews.com downgraded shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Roth Mkm raised shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $13.00 to $15.00 in a research report on Wednesday, September 18th. Finally, Roth Capital raised shares of Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th.

About Ambac Financial Group

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.