Ambac Financial Group (NYSE:AMBC - Get Free Report) announced its earnings results on Monday. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06), Zacks reports. The business had revenue of $15.68 million for the quarter, compared to the consensus estimate of $33.00 million. Ambac Financial Group had a negative net margin of 6.28% and a positive return on equity of 2.51%.
Ambac Financial Group Trading Up 2.1%
Shares of NYSE:AMBC traded up $0.17 on Friday, hitting $8.07. The company had a trading volume of 1,479,805 shares, compared to its average volume of 728,703. The firm's 50-day simple moving average is $7.83 and its two-hundred day simple moving average is $10.38. The firm has a market capitalization of $412.20 million, a price-to-earnings ratio of -17.54 and a beta of 0.86. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.10. Ambac Financial Group has a 1 year low of $5.99 and a 1 year high of $18.40.
Insider Activity at Ambac Financial Group
In other Ambac Financial Group news, Director Jeffrey Scott Stein bought 15,000 shares of Ambac Financial Group stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $6.46 per share, with a total value of $96,900.00. Following the transaction, the director now directly owns 50,000 shares of the company's stock, valued at $323,000. This represents a 42.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Ambac Financial Group
A hedge fund recently raised its stake in Ambac Financial Group stock. Millennium Management LLC grew its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 142.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 508,686 shares of the company's stock after purchasing an additional 299,094 shares during the period. Millennium Management LLC owned approximately 1.00% of Ambac Financial Group worth $4,451,000 as of its most recent SEC filing. Institutional investors own 84.49% of the company's stock.
About Ambac Financial Group
(
Get 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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