Millennium Management LLC Sells 66,065 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Millennium Management LLC cut its stake in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 24.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 209,592 shares of the company's stock after selling 66,065 shares during the period. Millennium Management LLC owned 0.44% of Ambac Financial Group worth $2,651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMBC. Barclays PLC lifted its holdings in Ambac Financial Group by 30.9% in the third quarter. Barclays PLC now owns 376,102 shares of the company's stock worth $4,216,000 after buying an additional 88,863 shares during the period. Empowered Funds LLC lifted its holdings in Ambac Financial Group by 5.1% in the fourth quarter. Empowered Funds LLC now owns 181,633 shares of the company's stock worth $2,298,000 after buying an additional 8,784 shares during the period. Rhumbline Advisers lifted its holdings in Ambac Financial Group by 6.4% in the fourth quarter. Rhumbline Advisers now owns 140,999 shares of the company's stock worth $1,784,000 after buying an additional 8,495 shares during the period. Principal Financial Group Inc. lifted its holdings in Ambac Financial Group by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 229,954 shares of the company's stock worth $2,909,000 after buying an additional 6,589 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in Ambac Financial Group by 22.8% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 38,850 shares of the company's stock worth $491,000 after buying an additional 7,216 shares during the period. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

Ambac Financial Group Stock Down 3.7%

AMBC traded down $0.29 on Wednesday, hitting $7.50. The company had a trading volume of 1,480,492 shares, compared to its average volume of 761,866. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58. Ambac Financial Group, Inc. has a 52-week low of $5.99 and a 52-week high of $18.40. The stock has a fifty day simple moving average of $7.62 and a 200-day simple moving average of $10.05. The firm has a market capitalization of $348.20 million, a P/E ratio of -16.30 and a beta of 0.86.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Ambac Financial Group had a negative net margin of 6.28% and a positive return on equity of 2.51%. The business had revenue of $15.68 million for the quarter, compared to analysts' expectations of $33.00 million. As a group, equities analysts expect that Ambac Financial Group, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In other Ambac Financial Group news, Director Jeffrey Scott Stein bought 15,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average cost of $6.46 per share, for a total transaction of $96,900.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company's stock, valued at approximately $323,000. This trade represents a 42.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.20% of the company's stock.

Ambac Financial Group Company 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.