60,546 Shares in Ambac Financial Group, Inc. $AMBC Bought by Aurelius Capital Management LP

Aurelius Capital Management LP bought a new stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 60,546 shares of the company’s stock, valued at approximately $430,000. Ambac Financial Group makes up approximately 2.9% of Aurelius Capital Management LP’s holdings, making the stock its 4th largest holding. Aurelius Capital Management LP owned 0.13% of Ambac Financial Group at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Ambac Financial Group by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,122,616 shares of the company’s stock valued at $7,972,000 after acquiring an additional 27,670 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its holdings in Ambac Financial Group by 98.0% during the second quarter. Prescott Group Capital Management L.L.C. now owns 875,977 shares of the company’s stock valued at $6,219,000 after purchasing an additional 433,613 shares during the last quarter. Deutsche Bank AG grew its holdings in Ambac Financial Group by 7.1% during 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. Millennium Management LLC raised its position in shares of Ambac Financial Group by 142.7% in the first quarter. Millennium Management LLC now owns 508,686 shares of the company’s stock valued at $4,451,000 after purchasing an additional 299,094 shares during the period. Finally, Third Avenue Management LLC lifted its stake in shares of Ambac Financial Group by 59.0% in the first quarter. Third Avenue Management LLC now owns 366,461 shares of the company’s stock worth $3,207,000 after buying an additional 136,045 shares during the last quarter. Institutional investors own 84.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMBC shares. Truist Financial raised their target price on shares of Ambac Financial Group from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ambac Financial Group in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.00.

Ambac Financial Group Stock Performance

NYSE AMBC opened at $9.04 on Monday. Ambac Financial Group, Inc. has a twelve month low of $5.99 and a twelve month high of $13.64. The stock has a market cap of $396.06 million, a PE ratio of -0.66 and a beta of 0.96. The firm has a 50-day simple moving average of $8.77 and a 200 day simple moving average of $8.26.

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 the consensus estimate of ($0.23) by $0.02. Ambac Financial Group had a negative return on equity of 3.50% and a negative net margin of 215.40%.The firm had revenue of $66.61 million during the quarter, compared to analysts’ expectations of $56.77 million. Research analysts forecast that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Ambac Financial Group

In other news, CEO Claude Leblanc bought 25,000 shares of Ambac Financial Group stock in a transaction that occurred on Wednesday, October 1st. The stock was purchased at an average cost of $8.54 per share, with a total value 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 $8,725,975.58. This trade represents a 2.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.20% of the company’s stock.

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.