Claude Leblanc Acquires 25,000 Shares of Ambac Financial Group, Inc. (NYSE:AMBC) Stock

Key Points

• Claude Leblanc, CEO of Ambac Financial Group, acquired 25,000 shares at an average price of $7.03 per share, increasing his total ownership to 603,291 shares worth over $4.24 million.
• Ambac Financial Group's stock rose by 8.9% on August 11, closing at $7.56, with a market capitalization of approximately $350.55 million.
• The company's latest earnings report showed a loss of ($0.22) EPS, exceeding expectations, while revenue of $16.20 million fell short of analyst predictions.

Ambac Financial Group, Inc. (NYSE:AMBC - Get Free Report) CEO Claude Leblanc purchased 25,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was acquired at an average price of $7.03 per share, for a total transaction of $175,750.00. Following the completion of the purchase, the chief executive officer owned 603,291 shares of the company's stock, valued at $4,241,135.73. This represents a 4.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ambac Financial Group Stock Up 8.9%

AMBC stock traded up $0.62 during trading on Monday, hitting $7.56. The company had a trading volume of 1,241,292 shares, compared to its average volume of 1,029,324. The firm has a market cap of $350.55 million, a PE ratio of -0.55 and a beta of 0.92. Ambac Financial Group, Inc. has a 1-year low of $5.99 and a 1-year high of $13.64. The firm has a 50-day moving average price of $7.58 and a 200-day moving average price of $8.46.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $16.20 million for the quarter, compared to analysts' expectations of $55.59 million. Sell-side analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Ambac Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in shares of Ambac Financial Group by 65,933.3% during the 2nd quarter. CWM LLC now owns 3,962 shares of the company's stock worth $28,000 after acquiring an additional 3,956 shares in the last quarter. GAMMA Investing LLC grew its holdings in Ambac Financial Group by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 4,463 shares of the company's stock valued at $39,000 after buying an additional 2,934 shares during the period. AlphaQuest LLC acquired a new position in shares of Ambac Financial Group during the 1st quarter valued at about $61,000. Point72 Asset Management L.P. acquired a new stake in shares of Ambac Financial Group in the fourth quarter worth approximately $92,000. Finally, DRW Securities LLC purchased a new stake in Ambac Financial Group in the first quarter valued at approximately $94,000. Institutional investors and hedge funds own 84.49% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial began coverage on Ambac Financial Group in a research report on Tuesday, July 15th. They issued a "buy" rating and a $10.00 price target on the stock.

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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