During December, the number of shares of Ambac Financial Group, Inc. (NYSE: AMBC) borrowed to cover short positions decreased noticeably. As of December 15, the total number of shares subject to short interest was 2,520,000; as of December 30, the total number of shares subject to short interest was 2,390,000, representing a decline of 5.2% from December 15’s total number of 2,520,000 shares subject to short interest. The current short-interest ratio is 4.6 days, calculated based on an average daily volume of 524,800 shares. This indicates that there are currently 4.6 times shorter than long positions. 5.4% of the company’s shares are currently being sold on the short market at this time.
The most recent quarterly earnings report for Ambac Financial Group (NYSE: AMBC) was released to the public on November 8 this year. During the time frame examined in this report, the business posted a profit of $7.37 for each outstanding share. Ambac Financial Group had a return on equity of 35.58% and a net margin of 96.15% for the company overall. The company reported a total of $80 million in sales during the time frame.
Consequently, the proportions of the stock that institutional investors and hedge funds own have been rebalanced. Point72 Hong Kong Ltd. increased its holdings in Ambac Financial Group by purchasing additional shares during the first three months of 2018. This brought the total value of the company’s interest in the company’s stock to approximately $26,000. During the second quarter, Nisa Investment Advisors LLC completed the purchase of a 62.9% ownership stake in Ambac Financial Group, bringing the company’s total ownership to 100%. As a result of the most recent purchase of 1,070 additional shares and the purchases made over the preceding three months, Nisa Investment Advisors LLC is now the owner of 2,770 shares in the company. The current value of these shares is $31,000. KBC Group NV increased its overall holdings in Ambac Financial Group during the second quarter by investing approximately $45,000. This brought the total value of its holdings in the company to a higher level. During the second quarter, Mutual of America Capital Management LLC completed an increase in its ownership stake in Ambac Financial Group stock, bringing its total to 13.4 percent. Since three months ago, Mutual of America Capital Management LLC has acquired an additional 8.93 shares of the company’s stock, bringing the total number of shares it owns to 7,565, currently valued at $86,000. This represents an increase in ownership of 8.93 shares. During the third quarter, Counterpoint Mutual Funds LLC successfully acquired a new position in Ambac Financial Group. The estimated value of this new position was approximately $105,000. Most of the company’s stock is owned by institutional investors and hedge funds, which account for 69.84% of the total.
Trading on the NYSE AMBC began on Monday, with each share priced at $17.29.The quick and current ratios correlate at 1.47, and the debt-to-equity ratios correlate at 4.62. The quick ratio and the current ratio are both measures of liquidity. Ambac Financial Group hit an all-time low of $7.24 during its 52-week trading period, while the company reached an all-time high of $17.59 during the same period. The company has maintained an average of $16.24 over the last 50 days. The price-to-earnings ratio for the company is 2.42, and its beta value comes in at 1.18. It is currently worth 777.53 million dollars in the market.
Recently, various research companies, including AMBC, have each stated their findings. StockNews.com debuted its coverage of Ambac Financial Group shares on October 12 with a research note that announced the company’s intention to begin tracking its stock. They suggested “putting up for sale” some of the company’s shares. On Monday, November 28, Compass Point released its first research note covering shares of Ambac Financial Group. This coverage took the form of a report. They have a price objective of $18.00 for the stock, and the rating they gave the company is “neutral.”
Ambac Financial Group, Inc. is a holding company, and Ambac Assurance Corp. is a subsidiary of Ambac Financial Group. Together, these two companies provide financial assurance and insurance protection. As part of its offerings, it offers various financial services, including lending, insurance, asset management, and several other options. On the same day the company was established, April 29, 1991, its headquarters were moved to New York City. This date also serves as the company’s birthday.
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