Ambac Financial Group Target of Unusually High Options Trading (NASDAQ:AMBC)

Ambac Financial Group, Inc. (NASDAQ:AMBC) was the target of unusually large options trading on Wednesday. Investors purchased 3,148 call options on the stock. This is an increase of 881% compared to the typical volume of 321 call options. Separately, BidaskClub lowered Ambac Financial Group from a “sell” rating to a […]

Ambac Financial Group, Inc. (NASDAQ:AMBC) was the target of unusually large options trading on Wednesday. Investors purchased 3,148 call options on the stock. This is an increase of 881% compared to the typical volume of 321 call options.

Separately, BidaskClub lowered Ambac Financial Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 25th.

Shares of NASDAQ:AMBC opened at $11.64 on Thursday. The business has a fifty day simple moving average of $12.83 and a 200 day simple moving average of $14.12. Ambac Financial Group has a 12-month low of $8.74 and a 12-month high of $22.90. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 4.49. The firm has a market cap of $533.22 million, a P/E ratio of -4.20 and a beta of 1.07.

Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings data on Thursday, August 6th. The financial services provider reported ($0.52) earnings per share for the quarter. Ambac Financial Group had a positive return on equity of 10.17% and a negative net margin of 27.53%. The business had revenue of $75.00 million during the quarter, compared to the consensus estimate of $37.90 million. During the same period last year, the business posted $1.88 earnings per share. The business’s revenue was down 15.9% on a year-over-year basis.

Several hedge funds have recently bought and sold shares of AMBC. Private Advisor Group LLC bought a new position in shares of Ambac Financial Group in the 2nd quarter worth about $29,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ambac Financial Group by 47.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,410 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,414 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Ambac Financial Group by 1,022.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,488 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 4,088 shares in the last quarter. Bank of Montreal Can raised its position in shares of Ambac Financial Group by 743.6% in the 2nd quarter. Bank of Montreal Can now owns 5,146 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 4,536 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Ambac Financial Group in the 2nd quarter worth about $169,000. 79.06% of the stock is owned by hedge funds and other institutional investors.

About Ambac Financial Group

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to public and private sector clients in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; and credit derivative contracts and Interest rate derivative transactions.

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