Envestnet Portfolio Solutions Inc. Invests $110,000 in Ambac Financial Group, Inc. (NYSE:AMBC)

Envestnet Portfolio Solutions Inc. purchased a new stake in Ambac Financial Group, Inc. (NYSE:AMBC) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,527 shares of the company’s stock, valued at approximately $110,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Ambac Financial Group by 191.9% during 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. Point72 Asset Management L.P. acquired a new stake in Ambac Financial Group during the 4th quarter worth $92,000. Aquatic Capital Management LLC acquired a new stake in Ambac Financial Group during the 4th quarter worth $105,000. First Citizens Bank & Trust Co. purchased a new stake in Ambac Financial Group in the first quarter valued at $123,000. Finally, Bayesian Capital Management LP acquired a new position in Ambac Financial Group in the fourth quarter valued at $127,000. 84.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ambac Financial Group

In other Ambac Financial Group news, Director Jeffrey Scott Stein bought 15,000 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average cost of $6.46 per share, with a total value of $96,900.00. Following the acquisition, the director directly owned 50,000 shares of the company’s stock, valued at $323,000. The trade was a 42.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.20% of the company’s stock.

Ambac Financial Group Stock Performance

Shares of AMBC stock opened at $7.07 on Wednesday. The stock’s 50-day moving average is $7.51 and its two-hundred day moving average is $9.26. Ambac Financial Group, Inc. has a 1 year low of $5.99 and a 1 year high of $13.64. The firm has a market cap of $328.26 million, a price-to-earnings ratio of -0.58 and a beta of 0.86.

Ambac Financial Group (NYSE:AMBC) last announced its earnings results on Monday, May 12th. The company reported ($0.13) earnings per share (EPS) 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 net margin of 163.67% and a negative return on equity of 1.80%. As a group, research analysts predict that Ambac Financial Group, Inc. will post 0.6 EPS for the current year.

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.