Goldman Sachs Group Inc. Has $5.95 Million Holdings in Ambac Financial Group, Inc. $AMBC

Key Points

• Goldman Sachs Group Inc. significantly reduced its stake in Ambac Financial Group by 42.6%, leaving it with 680,179 shares valued at approximately $5.95 million.
• Ambac Financial Group reported a quarterly loss with an EPS of ($0.22), surpassing analysts' estimates, but with a negative net margin of 215.40%.
• CEO Claude Leblanc purchased 25,000 shares of Ambac stock, increasing his ownership by 4.32% to nearly 603,291 shares.

Goldman Sachs Group Inc. lessened its stake in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 42.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 680,179 shares of the company's stock after selling 505,521 shares during the quarter. Goldman Sachs Group Inc. owned about 1.46% of Ambac Financial Group worth $5,952,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMBC. GAMMA Investing LLC boosted its holdings in shares of Ambac Financial Group by 191.9% in the 1st 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 during the last quarter. AlphaQuest LLC purchased a new stake in Ambac Financial Group during the 1st quarter worth $61,000. Point72 Asset Management L.P. purchased a new stake in Ambac Financial Group during the 4th quarter worth $92,000. DRW Securities LLC purchased a new stake in Ambac Financial Group during the 1st quarter worth $94,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Ambac Financial Group during the 1st quarter worth $110,000. Institutional investors and hedge funds own 84.49% of the company's stock.

Insider Buying and Selling at Ambac Financial Group

In related news, CEO Claude Leblanc purchased 25,000 shares of Ambac Financial Group stock in a transaction dated Monday, August 11th. The stock was bought at an average cost of $7.03 per share, with a total value of $175,750.00. Following the purchase, the chief executive officer owned 603,291 shares in the company, valued at approximately $4,241,135.73. The trade was a 4.32% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 set a "buy" rating and a $10.00 price target on the stock. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $10.00.

Ambac Financial Group Stock Performance

Shares of NYSE AMBC traded up $0.01 during midday trading on Friday, hitting $9.13. The company's stock had a trading volume of 1,034,148 shares, compared to its average volume of 487,787. Ambac Financial Group, Inc. has a 1-year low of $5.99 and a 1-year high of $13.64. The firm's fifty day moving average price is $8.55 and its 200-day moving average price is $7.97. The firm has a market cap of $423.63 million, a P/E ratio of -0.67 and a beta of 0.96.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate 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 business had revenue of $16.20 million during the quarter, compared to analyst estimates of $55.59 million. As a group, research analysts predict that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current fiscal year.

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.