Rhumbline Advisers trimmed its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 50.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,540 shares of the company's stock after selling 71,459 shares during the period. Rhumbline Advisers owned about 0.15% of Ambac Financial Group worth $608,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Two Sigma Investments LP lifted its holdings in shares of Ambac Financial Group by 41.1% during the fourth quarter. Two Sigma Investments LP now owns 132,295 shares of the company's stock valued at $1,674,000 after purchasing an additional 38,540 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Ambac Financial Group by 23.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,034 shares of the company's stock worth $2,455,000 after acquiring an additional 37,067 shares in the last quarter. Bank of America Corp DE lifted its stake in Ambac Financial Group by 166.4% in the 4th quarter. Bank of America Corp DE now owns 194,061 shares of the company's stock worth $2,455,000 after acquiring an additional 121,228 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 acquiring an additional 1,958 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Ambac Financial Group by 3.9% in the 4th quarter. American Century Companies Inc. now owns 929,345 shares of the company's stock worth $11,756,000 after acquiring an additional 34,861 shares in the last quarter. 84.49% of the stock is owned by hedge funds and other institutional investors.
Ambac Financial Group Trading Down 3.1%
Shares of Ambac Financial Group stock opened at $6.70 on Friday. The stock has a 50-day moving average price of $7.54 and a 200 day moving average price of $9.55. The company has a market cap of $311.27 million, a P/E ratio of -0.55 and a beta of 0.90. Ambac Financial Group, Inc. has a 1 year low of $5.99 and a 1 year high of $13.64.
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 (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $15.68 million during the quarter, compared to analysts' expectations of $33.00 million. Ambac Financial Group had a negative return on equity of 1.80% and a negative net margin of 163.67%. On average, equities analysts forecast that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Jeffrey Scott Stein bought 15,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were bought at an average cost of $6.46 per share, with a total value of $96,900.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $323,000. This trade represents a 42.86% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.20% of the company's stock.
About Ambac Financial Group
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Ambac Financial Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ambac Financial Group wasn't on the list.
While Ambac Financial Group currently has a Strong Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
