AXQ Capital LP Acquires 7,694 Shares of Ambac Financial Group, Inc. $AMBC

AXQ Capital LP increased its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 27.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,439 shares of the company’s stock after acquiring an additional 7,694 shares during the quarter. AXQ Capital LP owned about 0.08% of Ambac Financial Group worth $252,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in shares of Ambac Financial Group by 7.1% in the first 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 during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ambac Financial Group during the 1st quarter worth about $562,000. Nuveen LLC acquired a new position in Ambac Financial Group in the 1st quarter valued at about $2,473,000. Cubist Systematic Strategies LLC raised its holdings in Ambac Financial Group by 289.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 170,643 shares of the company’s stock valued at $1,493,000 after acquiring an additional 126,835 shares during the period. Finally, Third Avenue Management LLC lifted its position in Ambac Financial Group by 59.0% during the first quarter. Third Avenue Management LLC now owns 366,461 shares of the company’s stock worth $3,207,000 after acquiring an additional 136,045 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Stock Performance

NYSE:AMBC opened at $9.04 on Tuesday. The company has a market cap of $396.06 million, a price-to-earnings ratio of -0.66 and a beta of 0.96. Ambac Financial Group, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $13.64. The stock has a fifty day moving average price of $8.76 and a 200-day moving average price of $8.22.

Ambac Financial Group (NYSE:AMBC) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. The business had revenue of $66.61 million during the quarter, compared to the consensus estimate of $56.77 million. Ambac Financial Group had a negative return on equity of 3.50% and a negative net margin of 215.40%. Research analysts predict that Ambac Financial Group, Inc. will post 0.6 EPS for the current fiscal year.

Insider Transactions at Ambac Financial Group

In other news, CEO Claude Leblanc acquired 25,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was acquired at an average cost of $8.54 per share, for a total transaction of $213,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,021,777 shares in the company, valued at approximately $8,725,975.58. This trade represents a 2.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 6.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AMBC shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ambac Financial Group in a research report on Tuesday, November 11th. Truist Financial upped their price objective on Ambac Financial Group from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.00.

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.