Ambac Financial Group (NYSE:AMBC) Trading 2.7% Higher - What's Next?

Key Points

• Ambac Financial Group saw its stock price rise by 2.7% to $8.44, despite trading volume decreasing by 14% from its average.
• Analysts have mixed ratings on the stock, with one rating a Buy and another a Sell, while the consensus target price stands at $10.00.
• CEO Claude Leblanc purchased 25,000 shares at $8.54 each, increasing his ownership stake in the company, which is owned 6.20% by insiders.

Ambac Financial Group, Inc. (NYSE:AMBC - Get Free Report) traded up 2.7% during trading on Tuesday . The company traded as high as $8.47 and last traded at $8.44. 880,396 shares were traded during trading, a decline of 14% from the average session volume of 1,028,122 shares. The stock had previously closed at $8.22.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Truist Financial assumed coverage on shares of Ambac Financial Group in a research note on Tuesday, July 15th. They set a "buy" rating and a $10.00 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Ambac Financial Group in a research note on Tuesday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Ambac Financial Group presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Ambac Financial Group Price Performance

The stock has a market cap of $391.52 million, a P/E ratio of -0.62 and a beta of 0.96. The firm's 50-day moving average price is $8.71 and its 200-day moving average price is $7.97.

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

Insider Buying and Selling

In other news, CEO Claude Leblanc acquired 25,000 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was bought at an average cost of $8.54 per share, with a total value of $213,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,021,777 shares of the company's stock, valued at $8,725,975.58. This represents a 2.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.20% of the stock is owned by insiders.

Institutional Trading of Ambac Financial Group

A number of large investors have recently made changes to their positions in AMBC. CWM LLC boosted its stake in shares of Ambac Financial Group by 65,933.3% during the second quarter. CWM LLC now owns 3,962 shares of the company's stock valued at $28,000 after purchasing an additional 3,956 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Ambac Financial Group during the second quarter valued at $37,000. GAMMA Investing LLC boosted its stake in shares of Ambac Financial Group by 191.9% during the first quarter. GAMMA Investing LLC now owns 4,463 shares of the company's stock valued at $39,000 after purchasing an additional 2,934 shares during the period. LM Asset IM Inc. purchased a new stake in shares of Ambac Financial Group during the second quarter valued at $43,000. Finally, AlphaQuest LLC purchased a new stake in shares of Ambac Financial Group during the first quarter valued at $61,000. 84.49% of the stock is owned by hedge funds and other institutional investors.

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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