Prescott Group Capital Management L.L.C. Acquires 247,462 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Key Points

• Prescott Group Capital Management increased its stake in Ambac Financial Group by 127.0% during the 1st quarter, owning approximately 0.87% of the company valued at $3.87 million.
• Ambac Financial Group reported a loss of $0.13 EPS for the last quarter, falling short of analysts' estimates, while expecting a positive EPS of 0.6 for the current fiscal year.
• Director Jeffrey Scott Stein acquired 15,000 shares at an average cost of $6.46 per share, increasing his ownership by 42.86% and bringing his total holdings to 50,000 shares valued at $323,000.

Prescott Group Capital Management L.L.C. raised its holdings in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 127.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 442,364 shares of the company's stock after acquiring an additional 247,462 shares during the quarter. Prescott Group Capital Management L.L.C. owned approximately 0.87% of Ambac Financial Group worth $3,871,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd boosted its stake in Ambac Financial Group by 277.0% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 146,446 shares of the company's stock valued at $1,281,000 after purchasing an additional 107,596 shares during the last quarter. Mraz Amerine & Associates Inc. boosted its stake in Ambac Financial Group by 31.2% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 19,550 shares of the company's stock valued at $169,000 after purchasing an additional 4,650 shares during the last quarter. VELA Investment Management LLC boosted its stake in Ambac Financial Group by 47.7% during the 1st quarter. VELA Investment Management LLC now owns 92,412 shares of the company's stock valued at $809,000 after purchasing an additional 29,828 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Ambac Financial Group during the 1st quarter valued at about $110,000. Finally, SG Americas Securities LLC acquired a new position in Ambac Financial Group during the 1st quarter valued at about $317,000. 84.49% of the stock is currently owned by institutional investors and hedge funds.

Ambac Financial Group Stock Performance

NYSE AMBC traded down $0.04 on Tuesday, hitting $8.59. The stock had a trading volume of 212,291 shares, compared to its average volume of 1,037,306. Ambac Financial Group, Inc. has a 52-week low of $5.99 and a 52-week high of $13.64. The company has a market capitalization of $398.81 million, a price-to-earnings ratio of -0.71 and a beta of 0.86. The firm has a 50-day moving average of $7.50 and a 200-day moving average of $8.65.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last posted 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 return on equity of 1.80% and a negative net margin of 163.67%. The firm had revenue of $15.68 million during the quarter, compared to analysts' expectations of $33.00 million. As a group, research analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Ambac Financial Group

In other news, Director Jeffrey Scott Stein bought 15,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were acquired at an average cost of $6.46 per share, for a total transaction of $96,900.00. Following the purchase, the director directly owned 50,000 shares of the company's stock, valued at $323,000. This trade represents a 42.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Truist Financial initiated coverage on Ambac Financial Group in a research note on Tuesday, July 15th. They set a "buy" rating and a $10.00 price target for the company.

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.