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 boosted its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 148.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,308 shares of the company's stock after buying an additional 59,874 shares during the quarter. Quantbot Technologies LP owned approximately 0.20% of Ambac Financial Group worth $878,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Ambac Financial Group by 191.9% during the first quarter. GAMMA Investing LLC now owns 4,463 shares of the company's stock valued at $39,000 after buying an additional 2,934 shares during the period. Point72 Asset Management L.P. purchased a new position in Ambac Financial Group during the fourth quarter valued at approximately $92,000. Aquatic Capital Management LLC purchased a new position in Ambac Financial Group during the fourth quarter valued at approximately $105,000. Envestnet Portfolio Solutions Inc. purchased a new position in Ambac Financial Group during the first quarter valued at approximately $110,000. Finally, First Citizens Bank & Trust Co. purchased a new position in Ambac Financial Group during the first quarter valued at approximately $123,000. 84.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ambac Financial Group

In related news, CEO Claude Leblanc acquired 25,000 shares of the stock in a transaction dated Monday, August 11th. The stock was acquired at an average cost of $7.03 per share, for a total transaction of $175,750.00. Following the completion of the purchase, the chief executive officer owned 603,291 shares of the company's stock, valued at approximately $4,241,135.73. This represents a 4.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.20% of the company's stock.

Ambac Financial Group Stock Performance

AMBC traded up $0.03 during trading on Friday, hitting $9.04. The stock had a trading volume of 644,571 shares, compared to its average volume of 796,322. The company has a market capitalization of $419.22 million, a PE ratio of -0.66 and a beta of 0.92. Ambac Financial Group, Inc. has a twelve month low of $5.99 and a twelve month high of $13.64. The stock has a 50 day simple moving average of $7.98 and a two-hundred day simple moving average of $8.16.

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

Wall Street Analyst Weigh In

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

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.