Ambac Financial Group, Inc. $AMBC Shares Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG has increased its stake in Ambac Financial Group by 7.1%, now holding approximately 723,250 shares, valued at about $6.3 million.
• Ambac Financial Group's recent earnings report showed a loss of ($0.22) EPS, which was slightly better than analysts' expectations of ($0.24), but revenue fell significantly short.
• CEO Claude Leblanc bought 25,000 shares of Ambac stock at $7.03 per share, increasing his ownership by 4.32%.

Deutsche Bank AG raised its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 723,250 shares of the company's stock after purchasing an additional 48,117 shares during the quarter. Deutsche Bank AG owned about 1.42% of Ambac Financial Group worth $6,328,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. XTX Topco Ltd increased its stake in Ambac Financial Group by 326.3% during the 1st quarter. XTX Topco Ltd now owns 119,607 shares of the company's stock valued at $1,047,000 after purchasing an additional 91,547 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its holdings in shares of Ambac Financial Group by 127.0% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 442,364 shares of the company's stock valued at $3,871,000 after acquiring an additional 247,462 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Ambac Financial Group by 277.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 146,446 shares of the company's stock valued at $1,281,000 after acquiring an additional 107,596 shares during the last quarter. Mraz Amerine & Associates Inc. boosted its holdings in shares of Ambac Financial Group by 31.2% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 19,550 shares of the company's stock valued at $169,000 after acquiring an additional 4,650 shares during the last quarter. Finally, VELA Investment Management LLC boosted its holdings in shares of Ambac Financial Group by 47.7% in the 1st quarter. VELA Investment Management LLC now owns 92,412 shares of the company's stock valued at $809,000 after acquiring an additional 29,828 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company's stock.

Ambac Financial Group Trading Up 0.3%

Shares of AMBC stock traded up $0.0250 during trading hours on Thursday, hitting $8.5150. The company's stock had a trading volume of 518,415 shares, compared to its average volume of 842,357. The company has a 50 day moving average of $7.74 and a 200 day moving average of $8.30. The stock has a market cap of $395.10 million, a PE ratio of -0.63 and a beta of 0.92. Ambac Financial Group, Inc. has a 12-month low of $5.99 and a 12-month high of $13.64.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.02. Ambac Financial Group had a negative net margin of 215.40% and a negative return on equity of 3.50%. The firm had revenue of $16.20 million for the quarter, compared to the consensus estimate of $55.59 million. As a group, analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Truist Financial assumed coverage on shares of Ambac Financial Group in a report on Tuesday, July 15th. They issued a "buy" rating and a $10.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $12.50.

Insider Transactions at Ambac Financial Group

In other news, CEO Claude Leblanc purchased 25,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $7.03 per share, with a total value of $175,750.00. Following the completion of the acquisition, the chief executive officer owned 603,291 shares of the company's stock, valued at approximately $4,241,135.73. This represents a 4.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.20% of the company's 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.