Ambac Financial Group (NYSE:AMBC) Shares Gap Up – Time to Buy?

Shares of Ambac Financial Group, Inc. (NYSE:AMBC) 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

Several equities research analysts have commented on AMBC shares. Roth Mkm raised shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th. 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. Finally, StockNews.com downgraded shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th.

Ambac Financial Group Trading Up 11.8 %

The company has a market cap of $620.52 million, a price-to-earnings ratio of 8.09 and a beta of 1.22. The business’s fifty day moving average price is $11.31 and its 200 day moving average price is $12.81. The company has a debt-to-equity ratio of 2.37, a current ratio of 0.62 and a quick ratio of 0.62.

Insider Buying and Selling at Ambac Financial Group

In related news, Director Kristi Ann Matus bought 2,700 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $11.27 per share, for a total transaction of $30,429.00. Following the completion of the purchase, the director now directly owns 2,700 shares in the company, valued at $30,429. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Ambac Financial Group

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its position in Ambac Financial Group by 95.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock valued at $165,000 after buying an additional 5,145 shares during the period. BNP Paribas Financial Markets raised its stake in Ambac Financial Group by 55.3% in the first quarter. BNP Paribas Financial Markets now owns 23,370 shares of the company’s stock worth $365,000 after buying an additional 8,318 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Ambac Financial Group by 2.0% during the first quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock valued at $618,000 after purchasing an additional 770 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Ambac Financial Group by 4.9% in the first quarter. Illinois Municipal Retirement Fund now owns 27,952 shares of the company’s stock worth $437,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Ambac Financial Group by 30.1% in the first quarter. Sei Investments Co. now owns 29,714 shares of the company’s stock worth $464,000 after purchasing an additional 6,879 shares during the last quarter. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

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.