Ambac Financial Group, Inc. (NASDAQ:AMBC)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a research note issued on Saturday, July 22nd. They currently have a $26.00 price objective on the financial services provider’s stock. BTIG Research’s price target would suggest a potential upside of 36.27% from the stock’s current price.
Separately, MKM Partners upgraded Ambac Financial Group from a “sell” rating to a “neutral” rating and set a $17.00 price target for the company in a research report on Friday, May 12th.
Shares of Ambac Financial Group (NASDAQ AMBC) opened at 19.08 on Friday. The company has a 50 day moving average of $18.70 and a 200 day moving average of $19.03. The stock’s market capitalization is $863.39 million. Ambac Financial Group has a 52-week low of $15.67 and a 52-week high of $27.25.
Ambac Financial Group (NASDAQ:AMBC) last announced its earnings results on Wednesday, August 9th. The financial services provider reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.32. Ambac Financial Group had a positive return on equity of 5.69% and a negative net margin of 16.39%. The business had revenue of $172.85 million during the quarter, compared to analysts’ expectations of $127.75 million. During the same quarter last year, the business posted $2.54 earnings per share. The company’s quarterly revenue was up 36.9% on a year-over-year basis. Analysts predict that Ambac Financial Group will post $0.70 EPS for the current fiscal year.
In related news, CEO Claude Leblanc purchased 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $16.45 per share, for a total transaction of $123,375.00. Following the transaction, the chief executive officer now directly owns 25,400 shares of the company’s stock, valued at approximately $417,830. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its position in Ambac Financial Group by 27.2% in the first quarter. BNP Paribas Arbitrage SA now owns 10,474 shares of the financial services provider’s stock worth $198,000 after buying an additional 2,237 shares during the period. Bank of New York Mellon Corp raised its position in Ambac Financial Group by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 216,408 shares of the financial services provider’s stock worth $4,081,000 after buying an additional 12,326 shares during the period. American Century Companies Inc. raised its position in Ambac Financial Group by 47.8% in the first quarter. American Century Companies Inc. now owns 132,422 shares of the financial services provider’s stock worth $2,497,000 after buying an additional 42,848 shares during the period. LSV Asset Management raised its stake in shares of Ambac Financial Group by 67.7% in the first quarter. LSV Asset Management now owns 213,500 shares of the financial services provider’s stock worth $4,026,000 after buying an additional 86,200 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Ambac Financial Group by 83.0% in the first quarter. Wells Fargo & Company MN now owns 101,556 shares of the financial services provider’s stock worth $1,916,000 after buying an additional 46,072 shares during the last quarter. Institutional investors and hedge funds own 73.47% of the company’s stock.
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