Rhumbline Advisers Has $608,000 Position in Ambac Financial Group, Inc. (NYSE:AMBC)

Rhumbline Advisers decreased its position in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 50.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,540 shares of the company's stock after selling 71,459 shares during the period. Rhumbline Advisers owned approximately 0.15% of Ambac Financial Group worth $608,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Ambac Financial Group by 191.9% in the first 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. Point72 Asset Management L.P. acquired a new position in Ambac Financial Group in the 4th quarter valued at $92,000. Aquatic Capital Management LLC bought a new stake in shares of Ambac Financial Group during the 4th quarter valued at $105,000. Bayesian Capital Management LP acquired a new stake in shares of Ambac Financial Group during the 4th quarter worth $127,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Ambac Financial Group during the 4th quarter worth $146,000. Institutional investors and hedge funds own 84.49% of the company's stock.

Ambac Financial Group Price Performance

AMBC stock traded down $0.13 during midday trading on Wednesday, reaching $7.01. The company had a trading volume of 366,155 shares, compared to its average volume of 771,098. Ambac Financial Group, Inc. has a 1-year low of $5.99 and a 1-year high of $13.64. The stock has a 50 day moving average price of $7.54 and a 200-day moving average price of $9.47. The company has a market capitalization of $325.47 million, a price-to-earnings ratio of -0.58 and a beta of 0.90.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Ambac Financial Group had a negative net margin of 163.67% and a negative return on equity of 1.80%. The firm had revenue of $15.68 million during the quarter, compared to the consensus estimate of $33.00 million. As a group, research analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

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 on Wednesday, May 14th. The shares were purchased at an average price of $6.46 per share, with a total value of $96,900.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at $323,000. This trade represents a 42.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.20% of the stock is currently owned by insiders.

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.