Ambac Financial Group, Inc. $AMBC Shares Bought by Third Avenue Management LLC

Key Points

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Third Avenue Management LLC grew its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 59.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 366,461 shares of the company's stock after acquiring an additional 136,045 shares during the period. Third Avenue Management LLC owned about 0.72% of Ambac Financial Group worth $3,207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in Ambac Financial Group by 3.9% in the 4th quarter. California State Teachers Retirement System now owns 44,277 shares of the company's stock worth $560,000 after purchasing an additional 1,651 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ambac Financial Group by 8.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,807 shares of the company's stock worth $326,000 after purchasing an additional 1,958 shares in the last quarter. Bank of Montreal Can increased its stake in Ambac Financial Group by 19.5% in the 4th quarter. Bank of Montreal Can now owns 12,357 shares of the company's stock worth $156,000 after purchasing an additional 2,018 shares in the last quarter. MetLife Investment Management LLC increased its stake in Ambac Financial Group by 9.2% in the 4th quarter. MetLife Investment Management LLC now owns 26,838 shares of the company's stock worth $340,000 after purchasing an additional 2,269 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Ambac Financial Group by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 4,463 shares of the company's stock worth $39,000 after purchasing an additional 2,934 shares in the last quarter. Institutional investors and hedge funds own 84.49% of the company's stock.

Ambac Financial Group Price Performance

NYSE:AMBC opened at $8.30 on Tuesday. Ambac Financial Group, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $13.64. The stock's 50-day moving average is $7.64 and its two-hundred day moving average is $8.32. The stock has a market cap of $384.89 million, a PE ratio of -0.61 and a beta of 0.92.

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 for the quarter, beating 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. On average, equities research analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other Ambac Financial Group news, CEO Claude Leblanc bought 25,000 shares of the stock in a transaction on Monday, August 11th. The shares were bought at an average price of $7.03 per share, with a total value of $175,750.00. Following the purchase, the chief executive officer directly owned 603,291 shares in the company, valued at $4,241,135.73. The trade was a 4.32% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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 on the stock.

Ambac Financial Group Company Profile

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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