Hotchkis & Wiley Capital Management LLC Sells 279,970 Shares of 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 decreased its holdings in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 33.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted 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 valued at $39,000 after acquiring an additional 2,934 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of Ambac Financial Group during the first quarter worth $61,000. Point72 Asset Management L.P. acquired a new stake in shares of Ambac Financial Group in the fourth quarter valued at $92,000. Aquatic Capital Management LLC acquired a new stake in Ambac Financial Group in the fourth quarter valued at $105,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Ambac Financial Group during the first quarter worth about $110,000. Hedge funds and other institutional investors own 84.49% of the company's stock.

Insider Activity at Ambac Financial Group

In other news, CEO Claude Leblanc bought 25,000 shares of Ambac Financial Group stock in a transaction that occurred on 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 acquisition, the chief executive officer owned 603,291 shares of the company's stock, valued at $4,241,135.73. The trade was a 4.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.20% of the stock is owned by insiders.

Ambac Financial Group Trading Up 0.3%

Shares of AMBC stock traded up $0.03 during trading hours on Friday, hitting $9.04. 644,571 shares of the company's stock were exchanged, compared to its average volume of 1,003,507. The company has a market capitalization of $419.24 million, a PE ratio of -0.66 and a beta of 0.92. Ambac Financial Group, Inc. has a 12-month low of $5.99 and a 12-month high of $13.64. The business's 50 day simple moving average is $7.94 and its 200-day simple moving average is $8.20.

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

Wall Street Analysts Forecast Growth

Separately, Truist Financial assumed coverage on Ambac Financial Group in a report on Tuesday, July 15th. They issued a "buy" rating and a $10.00 price objective on the stock. One equities research 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 company currently has an average rating of "Buy" and a consensus price target 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.