Ambac Financial Group, Inc. (NYSE:AMBC) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Ambac Financial Group by 326.3% during the first quarter, owning 119,607 shares worth approximately $1,047,000.
• Director Jeffrey Scott Stein purchased 15,000 shares at $6.46 each, raising his ownership in the company by 42.86%.
• The company's stock has declined by 1.2% and reported a quarterly loss with earnings per share missing analysts' expectations.

XTX Topco Ltd grew its stake in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 326.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,607 shares of the company's stock after buying an additional 91,547 shares during the period. XTX Topco Ltd owned 0.23% of Ambac Financial Group worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System lifted its position in shares of Ambac Financial Group by 3.9% during the fourth quarter. California State Teachers Retirement System now owns 44,277 shares of the company's stock valued at $560,000 after purchasing an additional 1,651 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ambac Financial Group by 8.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,807 shares of the company's stock worth $326,000 after buying an additional 1,958 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Ambac Financial Group by 19.5% in the fourth 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 grew its position in shares of Ambac Financial Group by 9.2% in the fourth quarter. MetLife Investment Management LLC now owns 26,838 shares of the company's stock valued at $340,000 after purchasing an additional 2,269 shares in the last quarter. Finally, GAMMA Investing LLC grew its position 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 purchasing an additional 2,934 shares in the last quarter. 84.49% of the stock is owned by institutional investors.

Ambac Financial Group Trading Down 2.6%

Shares of AMBC stock traded down $0.23 on Thursday, reaching $8.31. The company's stock had a trading volume of 313,975 shares, compared to its average volume of 1,016,240. The stock's fifty day simple moving average is $7.59 and its 200-day simple moving average is $8.55. Ambac Financial Group, Inc. has a 1 year low of $5.99 and a 1 year high of $13.64. The company has a market capitalization of $385.99 million, a price-to-earnings ratio of -0.69 and a beta of 0.92.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $15.68 million for 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%. Equities research analysts forecast that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey Scott Stein acquired 15,000 shares of the business's stock in a transaction dated 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 acquisition, the director directly owned 50,000 shares in the company, valued at $323,000. The trade was a 42.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial assumed coverage on shares of Ambac Financial Group in a research note on Tuesday, July 15th. They issued a "buy" rating and a $10.00 price target for the company.

Ambac Financial Group 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.