Millennium Management LLC Trims Holdings in Ambac Financial Group, Inc. (NYSE:AMBC)

Millennium Management LLC lowered its position in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 24.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 valued at $326,000 after acquiring an additional 1,958 shares during the last quarter. Graham Capital Management L.P. increased its position in Ambac Financial Group by 196.6% in the fourth quarter. Graham Capital Management L.P. now owns 51,489 shares of the company's stock worth $651,000 after buying an additional 34,128 shares during the last quarter. Bridgeway Capital Management LLC increased its position in Ambac Financial Group by 3.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 291,633 shares of the company's stock worth $3,689,000 after buying an additional 8,784 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Ambac Financial Group in the fourth quarter valued at $127,000. Finally, Bank of America Corp DE grew its position in shares of Ambac Financial Group by 166.4% in the fourth quarter. Bank of America Corp DE now owns 194,061 shares of the company's stock valued at $2,455,000 after purchasing an additional 121,228 shares in the last quarter. 84.49% of the stock is owned by hedge funds and other institutional investors.

Ambac Financial Group Stock Performance

Shares of NYSE AMBC traded up $0.08 during mid-day trading on Monday, hitting $7.91. The company had a trading volume of 1,151,146 shares, compared to its average volume of 752,364. The company has a market capitalization of $367.42 million, a price-to-earnings ratio of -17.20 and a beta of 0.86. Ambac Financial Group, Inc. has a 1 year low of $5.99 and a 1 year high of $18.40. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10. The stock's 50-day moving average price is $7.68 and its 200-day moving average price is $10.11.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $15.68 million for the quarter, compared to the consensus estimate of $33.00 million. Ambac Financial Group had a negative net margin of 6.28% and a positive return on equity of 2.51%. On average, sell-side analysts forecast that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey Scott Stein acquired 15,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average price 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 in the company, valued at approximately $323,000. This represents a 42.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.20% of the company's stock.

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.