Hotchkis & Wiley Capital Management LLC Has $4.88 Million Position in Ambac Financial Group, Inc. $AMBC

Key Points

• Hotchkis & Wiley Capital Management LLC has reduced its stake in Ambac Financial Group by 33.4%, selling 279,970 shares during the first quarter and now holding approximately $4.88 million worth of the stock.
• Analysts gave Ambac Financial a buy rating with a price target of $10.00, while the average price target is set at $12.50 based on recent evaluations.
• CEO Claude Leblanc purchased 25,000 shares at $7.03 per share, increasing his position in the company by 4.32% and bringing his total ownership to 603,291 shares.

Hotchkis & Wiley Capital Management LLC lowered its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 33.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 557,680 shares of the company's stock after selling 279,970 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 1.09% of Ambac Financial Group worth $4,880,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in shares of Ambac Financial Group by 3.9% in 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. boosted 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. MetLife Investment Management LLC raised its position in shares of Ambac Financial Group by 9.2% during the fourth quarter. MetLife Investment Management LLC now owns 26,838 shares of the company's stock worth $340,000 after purchasing an additional 2,269 shares during the period. GAMMA Investing LLC raised its position in 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 buying an additional 2,934 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. raised its position in 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 buying an additional 4,650 shares during the last quarter. Institutional investors own 84.49% of the company's stock.

Ambac Financial Group Stock Up 0.3%

Shares of NYSE:AMBC traded up $0.03 during trading on Friday, reaching $9.04. 644,571 shares of the company traded hands, compared to its average volume of 802,670. The company's 50 day moving average is $7.98 and its two-hundred day moving average is $8.13. The firm has a market capitalization of $419.24 million, a PE 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.

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 analysts' consensus estimates of ($0.24) by $0.02. The firm had revenue of $16.20 million during 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%. As a group, research analysts anticipate that Ambac Financial Group, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling at Ambac Financial Group

In related news, CEO Claude Leblanc bought 25,000 shares of the business's stock in a transaction dated 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 transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.20% of the company's stock.

Analyst Ratings Changes

Separately, Truist Financial began coverage on 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 analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $12.50.

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.