Cubist Systematic Strategies LLC lessened its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 89.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,808 shares of the company's stock after selling 368,366 shares during the quarter. Cubist Systematic Strategies LLC owned 0.09% of Ambac Financial Group worth $554,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in AMBC. Barclays PLC grew its holdings in Ambac Financial Group by 30.9% during the third quarter. Barclays PLC now owns 376,102 shares of the company's stock worth $4,216,000 after buying an additional 88,863 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 worth $2,848,000 after buying an additional 92,100 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Ambac Financial Group by 4.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 164,474 shares of the company's stock valued at $2,081,000 after acquiring an additional 6,760 shares during the last quarter. Empowered Funds LLC lifted its holdings in Ambac Financial Group by 5.1% during the fourth quarter. Empowered Funds LLC now owns 181,633 shares of the company's stock worth $2,298,000 after acquiring an additional 8,784 shares during the period. Finally, Rhumbline Advisers grew its stake in Ambac Financial Group by 6.4% in the 4th quarter. Rhumbline Advisers now owns 140,999 shares of the company's stock valued at $1,784,000 after purchasing an additional 8,495 shares during the period. 84.49% of the stock is owned by institutional investors.
Ambac Financial Group Stock Performance
Shares of NYSE:AMBC traded down $0.37 during mid-day trading on Wednesday, reaching $7.70. The company had a trading volume of 70,359 shares, compared to its average volume of 728,318. Ambac Financial Group, Inc. has a one year low of $5.99 and a one year high of $18.40. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10. The company's 50-day moving average price is $7.82 and its 200-day moving average price is $10.34. The firm has a market cap of $357.35 million, a price-to-earnings ratio of -16.79 and a beta of 0.86.
Ambac Financial Group (NYSE:AMBC - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. The firm had revenue of $15.68 million during the quarter, compared to analysts' expectations of $33.00 million. As a group, equities research analysts anticipate that Ambac Financial Group, Inc. will post 0.6 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Jeffrey Scott Stein bought 15,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $6.46 per share, for a total transaction of $96,900.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $323,000. The trade was a 42.86% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.20% of the company's stock.
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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