Ambac Financial Group, Inc. (NYSE:AMBC) Director Purchases $49,937.50 in Stock

Ambac Financial Group, Inc. (NYSE:AMBCGet Rating) Director Lisa G. Iglesias bought 6,250 shares of the business’s stock in a transaction on Thursday, May 12th. The stock was purchased at an average price of $7.99 per share, for a total transaction of $49,937.50. Following the purchase, the director now directly owns 14,550 shares in the company, valued at approximately $116,254.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of NYSE:AMBC opened at $8.55 on Monday. The company’s 50-day moving average price is $9.14 and its two-hundred day moving average price is $13.13. Ambac Financial Group, Inc. has a one year low of $7.24 and a one year high of $17.86. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $397.96 million, a PE ratio of -13.79 and a beta of 1.46.

Ambac Financial Group (NYSE:AMBCGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $1.02. Ambac Financial Group had a positive return on equity of 3.31% and a negative net margin of 6.03%. During the same quarter last year, the firm earned $0.59 EPS.

Ambac Financial Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 30th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Separately, MKM Partners lowered their price objective on shares of Ambac Financial Group from $15.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, March 23rd.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. lifted its stake in Ambac Financial Group by 150.0% in the 3rd quarter. Brookfield Asset Management Inc. now owns 150,000 shares of the company’s stock valued at $2,148,000 after purchasing an additional 90,000 shares during the last quarter. Geode Capital Management LLC raised its stake in Ambac Financial Group by 0.6% in the third quarter. Geode Capital Management LLC now owns 750,116 shares of the company’s stock valued at $10,741,000 after buying an additional 4,419 shares during the period. Metropolitan Life Insurance Co NY lifted its position in shares of Ambac Financial Group by 17.5% in the third quarter. Metropolitan Life Insurance Co NY now owns 11,358 shares of the company’s stock valued at $163,000 after buying an additional 1,689 shares during the last quarter. Credit Suisse AG raised its stake in Ambac Financial Group by 5.9% in the 3rd quarter. Credit Suisse AG now owns 142,799 shares of the company’s stock valued at $2,045,000 after acquiring an additional 7,990 shares during the period. Finally, SG Americas Securities LLC bought a new position in Ambac Financial Group during the third quarter worth $421,000. 77.94% of the stock is owned by institutional investors.

Ambac Financial Group Company Profile (Get Rating)

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; specialty property & casualty program insurance; credit derivative contracts; and interest rate derivative transactions, as well as managing general agency / underwriting services.

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