Streetbeat News

AMBC

Ambac Financial Group, Inc.

https://www.ambac.com

Industry

Insurance - Specialty

Ambac Financial Group, Inc., a financial services holding company, provides financial guarantees in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; specialty property & casualty program insurance; credit derivative contracts; and interest rate derivative transactions, as well as managing general agency / underwriting services. The company was incorporated in 1991 and is headquartered in New York, New York.

Open

8.53

Mkt cap

388M

Volume

1.4M

High

8.64

P/E Ratio

-64.54

52-wk high

18.45

Low

8.23

Div yield

N/A

52-wk low

7.92

Ambac Financial Group shares are trading lower after announcing a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners and to sell its legacy financial guarantee business.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 3:50 pm

Ambac Financial Group has signed a definitive agreement to sell its legacy financial guarantee businesses, Ambac Assurance Corporation and Ambac UK, to funds managed by Oaktree Capital Management for $420 million in cash.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 10:36 am

Ambac Financial Group has signed a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners Limited for approximately $282 million. Up to $40 million of this amount will be paid in shares of Ambac common stock, with the remainder paid in cash.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 10:34 am

Compass Point analyst Giuliano Bologna maintains a Buy rating on Ambac Financial Group (AMBC) and raises the price target from $18 to $19.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 5:36 pm

Beyond, Inc. (NYSE:BYON) shares plummeted over 20% due to disappointing quarterly results, missing both earnings and revenue estimates. Other stocks experienced significant movements, with companies like Golden Sun Health Technology Group Limited (NASDAQ:GSUN) and MMTec, Inc. (NASDAQ:MTC) seeing substantial gains. The article also highlights losers of the day, including Holdco Nuvo Group D.G Ltd (NASDAQ:NUVO) and The Real Good Food Company, Inc. (NASDAQ:RGF), which saw notable declines.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 6:35 pm

U.S. stocks were higher on Tuesday, with notable gains from Tempur Sealy International, Inc. (TPX) after reporting upbeat quarterly earnings despite a sales decline. Other companies like Great Lakes Dredge & Dock Corporation (GLDD), Dave Inc. (DAVE), and Fabrinet (FN) also saw significant stock price increases following better-than-expected financial results or guidance.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 2:54 pm

Zeta Global Holdings Corp. (NASDAQ:ZETA) shares surged 15% in pre-market trading after reporting better-than-expected Q1 results and raising Q2 revenue guidance. Other stocks also moved significantly in pre-market trading due to various reasons including earnings reports, acquisitions, and public offerings.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 12:11 pm

Ambac Financial Group (NYSE:AMBC) reported Q1 2024 adjusted EPS of $0.82, surpassing the $0.09 estimate, marking an 811.11% beat and a 373.33% increase from last year's losses of $(0.30) per share. Sales reached $103M, up 77.59% from $58M YoY.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:35 pm

In Monday's intraday session, the insurance industry saw significant movements with Reliance Global Group, Crawford, Trupanion, Intl General Insurance, and Cheche Group among the gainers, while Waterdrop, Ambac Financial Group, Maiden Holdings, American Coastal, SelectQuote, and Citizens were the losers. Notable changes were observed in stock prices, with some companies releasing their Q4 earnings reports.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 5:40 pm

Insurance stocks experienced notable movements in Thursday's intraday session. Gainers included Root, SelectQuote, Conifer Holdings, Lemonade, Fanhua, and Maiden Holdings, with increases ranging from 3.77% to 16.33%. Losers were Marpai, MBIA, Huize Holding, Assured Guaranty, Ambac Financial Group, and Intl General Insurance, with declines between 2.64% and 5.41%. Notably, Lemonade, MBIA, Assured Guaranty, and Ambac Financial Group recently released their Q4 earnings.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 5:40 pm

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