Ambac Financial Group, Inc. (NYSE:AMBC) Sees Large Decline in Short Interest

Ambac Financial Group, Inc. (NYSE:AMBC) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 4,050,000 shares, a drop of 6.0% from the December 15th total of 4,310,000 shares. Based on an average daily volume of 590,200 shares, the days-to-cover ratio is presently 6.9 days. Currently, 9.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Ambac Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of AMBC. Quarry LP increased its position in shares of Ambac Financial Group by 830.7% during the 2nd quarter. Quarry LP now owns 2,364 shares of the company’s stock valued at $30,000 after purchasing an additional 2,110 shares during the last quarter. Point72 DIFC Ltd bought a new position in Ambac Financial Group during the third quarter valued at approximately $46,000. nVerses Capital LLC raised its stake in shares of Ambac Financial Group by 92.0% during the third quarter. nVerses Capital LLC now owns 9,600 shares of the company’s stock worth $108,000 after acquiring an additional 4,600 shares in the last quarter. Creative Planning purchased a new stake in shares of Ambac Financial Group in the 3rd quarter valued at $156,000. Finally, XTX Topco Ltd bought a new position in shares of Ambac Financial Group during the 3rd quarter valued at $172,000. Hedge funds and other institutional investors own 84.49% of the company’s stock.

Ambac Financial Group Price Performance

NYSE:AMBC traded down $0.06 during trading hours on Friday, hitting $11.39. The stock had a trading volume of 547,489 shares, compared to its average volume of 575,119. The firm has a market capitalization of $540.53 million, a price-to-earnings ratio of -24.77 and a beta of 1.24. Ambac Financial Group has a one year low of $10.12 and a one year high of $18.45. The company has a 50 day simple moving average of $12.35 and a two-hundred day simple moving average of $11.86. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58.

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.