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

Ambac Financial Group, Inc. (NYSE:AMBC) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,890,000 shares, a growth of 8.1% from the October 15th total of 3,600,000 shares. Approximately 9.2% of the shares of the company are short sold. 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 news, Director Kristi Ann Matus acquired 2,700 shares of Ambac Financial Group stock in a transaction that occurred 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 of the company’s stock, valued at $30,429. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Creative Planning acquired a new position in shares of Ambac Financial Group during the third quarter valued at $156,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Ambac Financial Group during the second quarter valued at $1,149,000. Marshall Wace LLP increased its holdings 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 valued at $4,432,000 after purchasing an additional 276,210 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Ambac Financial Group by 55.1% during the third quarter. Exchange Traded Concepts LLC now owns 157,714 shares of the company’s stock valued at $1,768,000 after purchasing an additional 56,036 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings 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 valued at $37,857,000 after purchasing an additional 87,077 shares during the period. 84.49% of the stock is owned by institutional investors and hedge funds.

Ambac Financial Group Price Performance

Shares of AMBC opened at $12.44 on Tuesday. The firm has a market capitalization of $590.19 million, a price-to-earnings ratio of -27.04 and a beta of 1.22. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.62 and a current ratio of 0.58. Ambac Financial Group has a one year low of $10.12 and a one year high of $18.45. The stock’s fifty day moving average is $11.43 and its 200-day moving average is $12.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMBC shares. StockNews.com lowered Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Roth Capital raised Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research 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 stock from $13.00 to $15.00 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.