Ambac Financial Group, Inc. (NYSE:AMBC) Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 277.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,446 shares of the company's stock after acquiring an additional 107,596 shares during the period. Y Intercept Hong Kong Ltd owned about 0.29% of Ambac Financial Group worth $1,281,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AMBC. California State Teachers Retirement System lifted its position in shares of Ambac Financial Group by 3.9% in the 4th quarter. California State Teachers Retirement System now owns 44,277 shares of the company's stock worth $560,000 after buying an additional 1,651 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ambac Financial Group by 8.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,807 shares of the company's stock worth $326,000 after buying an additional 1,958 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Ambac Financial Group by 19.5% in the 4th quarter. Bank of Montreal Can now owns 12,357 shares of the company's stock worth $156,000 after buying an additional 2,018 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Ambac Financial Group by 9.2% in the 4th quarter. MetLife Investment Management LLC now owns 26,838 shares of the company's stock worth $340,000 after buying an additional 2,269 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Ambac Financial Group by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 4,463 shares of the company's stock worth $39,000 after buying an additional 2,934 shares during the last quarter. 84.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Truist Financial began coverage on shares of Ambac Financial Group in a research report on Tuesday, July 15th. They issued a "buy" rating and a $10.00 price target on the stock.

Ambac Financial Group Price Performance

Shares of AMBC stock traded up $0.18 during trading hours on Friday, reaching $8.80. The stock had a trading volume of 932,570 shares, compared to its average volume of 1,149,904. Ambac Financial Group, Inc. has a twelve month low of $5.99 and a twelve month high of $13.64. The firm has a 50-day simple moving average of $7.49 and a 200-day simple moving average of $8.71. The firm has a market capitalization of $408.40 million, a PE ratio of -0.73 and a beta of 0.86.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The firm had revenue of $15.68 million during the quarter, compared to analyst estimates of $33.00 million. Ambac Financial Group had a negative return on equity of 1.80% and a negative net margin of 163.67%. On average, equities analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey Scott Stein bought 15,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $6.46 per share, with a total value of $96,900.00. Following the purchase, the director owned 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 document filed with the SEC, which is available through this hyperlink. 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.