Dynamic Technology Lab Private Ltd Makes New $562,000 Investment in Ambac Financial Group, Inc. $AMBC

Key Points

• Dynamic Technology Lab Private Ltd invested $562,000 in Ambac Financial Group, acquiring 64,233 shares, representing approximately 0.13% ownership in the company.
• Ambac CEO Claude Leblanc purchased 25,000 shares valued at around $175,000, increasing his total ownership to over 603,000 shares.
• Truist Financial started coverage on Ambac, assigning a "buy" rating with a target price of $10.00, while the stock currently trades around $8.95.

Dynamic Technology Lab Private Ltd acquired a new position in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,233 shares of the company's stock, valued at approximately $562,000. Dynamic Technology Lab Private Ltd owned approximately 0.13% of Ambac Financial Group at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Nuveen Asset Management LLC raised its stake in Ambac Financial Group by 65.5% during the fourth quarter. Nuveen Asset Management LLC now owns 824,357 shares of the company's stock worth $10,428,000 after acquiring an additional 326,149 shares in the last quarter. Deutsche Bank AG raised its stake in Ambac Financial Group by 7.1% during the first quarter. Deutsche Bank AG now owns 723,250 shares of the company's stock worth $6,328,000 after acquiring an additional 48,117 shares in the last quarter. Northern Trust Corp increased its stake in shares of Ambac Financial Group by 13.4% in the fourth quarter. Northern Trust Corp now owns 536,486 shares of the company's stock valued at $6,787,000 after buying an additional 63,430 shares in the last quarter. Millennium Management LLC increased its stake in shares of Ambac Financial Group by 142.7% in the first quarter. Millennium Management LLC now owns 508,686 shares of the company's stock valued at $4,451,000 after buying an additional 299,094 shares in the last quarter. Finally, Western Standard LLC increased its stake in shares of Ambac Financial Group by 64.3% in the fourth quarter. Western Standard LLC now owns 453,530 shares of the company's stock valued at $5,737,000 after buying an additional 177,567 shares in the last quarter. 84.49% of the stock is currently owned by institutional investors and hedge funds.

Ambac Financial Group Price Performance

Shares of NYSE:AMBC traded up $0.01 during midday trading on Friday, reaching $8.93. The company's stock had a trading volume of 259,699 shares, compared to its average volume of 565,912. The business's fifty day simple moving average is $8.38 and its 200-day simple moving average is $8.00. The company has a market capitalization of $414.14 million, a P/E ratio of -0.66 and a beta of 0.96. Ambac Financial Group, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $13.64.

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

Analysts Set New Price Targets

Separately, Truist Financial initiated coverage on Ambac Financial Group in a research note on Tuesday, July 15th. They issued 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 issued a Buy rating to the company's stock. According to MarketBeat.com, Ambac Financial Group currently has a consensus rating of "Buy" and a consensus price target of $12.50.

Insider Buying and Selling

In other news, CEO Claude Leblanc acquired 25,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $7.03 per share, for a total transaction of $175,750.00. Following the completion of the transaction, the chief executive officer directly owned 603,291 shares in the company, valued at $4,241,135.73. This trade represents a 4.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.20% of the stock is currently owned by insiders.

About Ambac Financial Group

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.