Ambac Financial Group (NYSE:AMBC) CEO Acquires $213,500.00 in Stock

Key Points

• Ambac Financial Group CEO Claude Leblanc purchased 25,000 shares of the company at an average price of $8.54, totaling $213,500, which increases his total ownership to over 1 million shares.
• The company's stock recently traded down to $8.14, and it has experienced significant fluctuations with a 12-month low of $5.99 and a high of $13.64.
• Ambac reported a negative earnings per share of ($0.22) for the last quarter, surpassing analyst estimates, but its revenue was lower than expected at $16.20 million compared to a forecast of $55.59 million.

Ambac Financial Group, Inc. (NYSE:AMBC - Get Free Report) CEO Claude Leblanc bought 25,000 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was bought at an average price of $8.54 per share, with a total value of $213,500.00. Following the purchase, the chief executive officer owned 1,021,777 shares in the company, valued at $8,725,975.58. This trade represents a 2.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Claude Leblanc also recently made the following trade(s):

• On Monday, August 11th, Claude Leblanc purchased 25,000 shares of Ambac Financial Group stock. The shares were bought at an average price of $7.03 per share, for a total transaction of $175,750.00.

Ambac Financial Group Stock Performance

AMBC traded down $0.21 on Wednesday, hitting $8.14. 1,509,317 shares of the company were exchanged, compared to its average volume of 966,411. The stock has a market capitalization of $377.48 million, a PE ratio of -0.60 and a beta of 0.96. Ambac Financial Group, Inc. has a 12 month low of $5.99 and a 12 month high of $13.64. The firm has a fifty day simple moving average of $8.71 and a two-hundred day simple moving average of $7.99.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.02. Ambac Financial Group had a negative return on equity of 3.50% and a negative net margin of 215.40%.The firm had revenue of $16.20 million for the quarter, compared to analyst estimates of $55.59 million. On average, equities analysts expect that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Ambac Financial Group

A number of institutional investors have recently modified their holdings of the stock. Continental General Insurance Co. purchased a new position in shares of Ambac Financial Group in the 2nd quarter valued at about $8,650,000. Gendell Jeffrey L increased its stake in shares of Ambac Financial Group by 99.0% in the 2nd quarter. Gendell Jeffrey L now owns 1,198,420 shares of the company's stock valued at $8,509,000 after purchasing an additional 596,134 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Ambac Financial Group by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,122,616 shares of the company's stock valued at $7,972,000 after purchasing an additional 27,670 shares in the last quarter. Prescott Group Capital Management L.L.C. increased its stake in shares of Ambac Financial Group by 98.0% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 875,977 shares of the company's stock valued at $6,219,000 after purchasing an additional 433,613 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Ambac Financial Group by 7.1% in the 1st quarter. Deutsche Bank AG now owns 723,250 shares of the company's stock valued at $6,328,000 after purchasing an additional 48,117 shares in the last quarter. Hedge funds and other institutional investors own 84.49% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial started coverage on Ambac Financial Group in a research note on Tuesday, July 15th. They issued a "buy" rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $10.00.

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.

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