Marshall Wace LLP lowered its position in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 266,939 shares of the company's stock after selling 97,635 shares during the quarter. Marshall Wace LLP owned 0.56% of Ambac Financial Group worth $3,377,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Portolan Capital Management LLC purchased a new position in shares of Ambac Financial Group during the 4th quarter worth $7,456,000. Norges Bank acquired a new stake in Ambac Financial Group in the 4th quarter valued at $3,328,000. JPMorgan Chase & Co. raised its holdings in shares of Ambac Financial Group by 56.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 254,072 shares of the company's stock valued at $2,848,000 after buying an additional 92,100 shares during the period. Barclays PLC raised its stake in shares of Ambac Financial Group by 30.9% during the third quarter. Barclays PLC now owns 376,102 shares of the company's stock valued at $4,216,000 after purchasing an additional 88,863 shares during the period. Finally, VELA Investment Management LLC purchased a new stake in Ambac Financial Group during the 4th quarter worth $792,000. 84.49% of the stock is currently owned by hedge funds and other institutional investors.
Ambac Financial Group Stock Up 0.7 %
Shares of NYSE AMBC traded up $0.05 during midday trading on Thursday, reaching $8.03. 71,267 shares of the company's stock were exchanged, compared to its average volume of 686,435. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.58 and a current ratio of 0.58. Ambac Financial Group, Inc. has a 52-week low of $6.33 and a 52-week high of $18.45. The business's fifty day moving average price is $8.31 and its two-hundred day moving average price is $10.70. The stock has a market capitalization of $410.47 million, a PE ratio of -17.42 and a beta of 1.09.
Ambac Financial Group (NYSE:AMBC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.18). The business had revenue of $18.93 million for the quarter, compared to analysts' expectations of $24.83 million. Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. Analysts forecast that Ambac Financial Group, Inc. will post 0.6 EPS for the current year.
Ambac Financial Group Company Profile
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Free Report)
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.
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