Ambac Financial Group, Inc. $AMBC Shares Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in Ambac Financial Group by 148.1% during the first quarter, owning 100,308 shares valued at approximately $878,000.
• CEO Claude Leblanc purchased 25,000 shares of Ambac at an average price of $7.03 per share, raising his ownership to approximately $4.24 million.
• Analysts have given Ambac Financial Group a consensus rating of "Buy" with an average price target of $12.50, following a new coverage initiation by Truist Financial.

Quantbot Technologies LP grew its position in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 148.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,308 shares of the company's stock after purchasing an additional 59,874 shares during the period. Quantbot Technologies LP owned approximately 0.20% of Ambac Financial Group worth $878,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen Asset Management LLC lifted its stake in shares of Ambac Financial Group by 65.5% in the 4th quarter. Nuveen Asset Management LLC now owns 824,357 shares of the company's stock valued at $10,428,000 after purchasing an additional 326,149 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Ambac Financial Group by 7.1% in the 1st quarter. Deutsche Bank AG now owns 723,250 shares of the company's stock valued at $6,328,000 after purchasing an additional 48,117 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Ambac Financial Group by 13.4% in the 4th quarter. Northern Trust Corp now owns 536,486 shares of the company's stock valued at $6,787,000 after purchasing an additional 63,430 shares in the last quarter. Western Standard LLC lifted its position in Ambac Financial Group by 64.3% during the 4th quarter. Western Standard LLC now owns 453,530 shares of the company's stock worth $5,737,000 after acquiring an additional 177,567 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. lifted its position in Ambac Financial Group by 127.0% during the 1st quarter. Prescott Group Capital Management L.L.C. now owns 442,364 shares of the company's stock worth $3,871,000 after acquiring an additional 247,462 shares in the last quarter. 84.49% of the stock is owned by institutional investors and hedge funds.

Ambac Financial Group Price Performance

NYSE:AMBC traded down $0.05 during midday trading on Friday, reaching $8.97. 215,703 shares of the company traded hands, compared to its average volume of 1,000,866. Ambac Financial Group, Inc. has a twelve month low of $5.99 and a twelve month high of $13.64. The firm has a market capitalization of $415.99 million, a price-to-earnings ratio of -0.66 and a beta of 0.92. The company has a fifty day moving average price of $7.94 and a 200 day moving average price of $8.20.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.02. Ambac Financial Group had a negative return on equity of 3.50% and a negative net margin of 215.40%.The business had revenue of $16.20 million during the quarter, compared to analyst estimates of $55.59 million. On average, equities research analysts forecast 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 Ambac Financial Group news, CEO Claude Leblanc purchased 25,000 shares of Ambac Financial Group stock in a transaction on Monday, August 11th. The stock was bought at an average price of $7.03 per share, for a total transaction of $175,750.00. Following the transaction, 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 SEC, which is accessible through this link. Company insiders own 6.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial started coverage on Ambac Financial Group in a research report on Tuesday, July 15th. They set a "buy" rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, Ambac Financial Group presently has an average rating of "Buy" and a consensus target price of $12.50.

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.