Caxton Associates LLP Acquires New Position in Ambac Financial Group, Inc. $AMBC

Key Points

• Caxton Associates LLP has acquired a new stake in Ambac Financial Group, purchasing 65,647 shares valued at approximately $574,000, which represents about 0.13% ownership of the company.
• Ambac Financial Group recently reported an earnings loss of ($0.22) per share, slightly outperforming analysts' expectations, but fell short on revenue with $16.20 million compared to projected earnings of $55.59 million.
• Truist Financial has initiated coverage on Ambac Financial Group with a "buy" rating and a price target of $10.00, while the consensus price target among analysts is currently $12.50.

Caxton Associates LLP bought a new stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 65,647 shares of the company's stock, valued at approximately $574,000. Caxton Associates LLP owned approximately 0.13% of Ambac Financial Group at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Ambac Financial Group by 191.9% in the first 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. AlphaQuest LLC bought a new position in shares of Ambac Financial Group in the 1st quarter worth about $61,000. Point72 Asset Management L.P. bought a new position in shares of Ambac Financial Group in the 4th quarter worth about $92,000. DRW Securities LLC purchased a new position in Ambac Financial Group during the 1st quarter valued at about $94,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Ambac Financial Group during the first quarter worth about $110,000. Institutional investors own 84.49% of the company's stock.

Insider Buying and Selling at Ambac Financial Group

In other news, CEO Claude Leblanc bought 25,000 shares of Ambac Financial Group stock in a transaction dated Monday, August 11th. The shares were acquired at an average price of $7.03 per share, with a total value of $175,750.00. Following the completion of the purchase, the chief executive officer 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 legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.20% of the company's stock.

Ambac Financial Group Stock Performance

AMBC stock traded up $0.22 during midday trading on Wednesday, reaching $8.99. 36,193 shares of the company traded hands, compared to its average volume of 965,419. The firm has a market capitalization of $417.14 million, a price-to-earnings ratio of -0.66 and a beta of 0.96. Ambac Financial Group, Inc. has a 52-week low of $5.99 and a 52-week high of $13.64. The business has a 50 day moving average of $8.43 and a 200-day moving average of $7.96.

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. The firm had revenue of $16.20 million for the quarter, compared to the consensus estimate of $55.59 million. Ambac Financial Group had a negative return on equity of 3.50% and a negative net margin of 215.40%. Research analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Truist Financial initiated coverage on shares of Ambac Financial Group in a research note on Tuesday, July 15th. They set a "buy" rating and a $10.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, Ambac Financial Group has a consensus rating of "Buy" and an average target price of $12.50.

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.