Evermore Global Advisors LLC Reduces Holdings in Ambac Financial Group, Inc. (NASDAQ:AMBC)

Evermore Global Advisors LLC reduced its stake in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 846,297 shares of the financial services provider’s stock after selling 118,290 shares during the quarter. Ambac Financial Group comprises approximately 5.5% of Evermore Global Advisors LLC’s portfolio, making the stock its 10th biggest holding. Evermore Global Advisors LLC owned approximately 1.87% of Ambac Financial Group worth $14,607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of AMBC. Geode Capital Management LLC lifted its position in shares of Ambac Financial Group by 8.1% in the first quarter. Geode Capital Management LLC now owns 364,329 shares of the financial services provider’s stock valued at $6,871,000 after acquiring an additional 27,263 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Ambac Financial Group by 50.0% in the first quarter. Renaissance Technologies LLC now owns 241,200 shares of the financial services provider’s stock valued at $4,549,000 after acquiring an additional 80,400 shares in the last quarter. State Street Corp lifted its position in shares of Ambac Financial Group by 0.8% in the first quarter. State Street Corp now owns 868,395 shares of the financial services provider’s stock valued at $16,381,000 after acquiring an additional 6,732 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Ambac Financial Group by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 219,229 shares of the financial services provider’s stock valued at $3,803,000 after acquiring an additional 2,821 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Ambac Financial Group by 35.7% in the second quarter. BNP Paribas Arbitrage SA now owns 14,211 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 3,737 shares in the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Separately, MKM Partners reiterated a “hold” rating on shares of Ambac Financial Group in a research note on Thursday, October 5th.

Ambac Financial Group, Inc. (NASDAQ:AMBC) opened at $14.73 on Friday. Ambac Financial Group, Inc. has a 12 month low of $13.17 and a 12 month high of $27.25. The company has a debt-to-equity ratio of 7.46, a current ratio of 0.38 and a quick ratio of 0.38.

Ambac Financial Group (NASDAQ:AMBC) last released its earnings results on Wednesday, November 8th. The financial services provider reported ($3.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($4.22). The business had revenue of $132.97 million during the quarter, compared to analyst estimates of $125.84 million. Ambac Financial Group had a negative net margin of 60.33% and a negative return on equity of 9.68%. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.23 earnings per share.

In other news, Director C James Prieur purchased 10,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was bought at an average cost of $14.02 per share, for a total transaction of $140,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Claude Leblanc purchased 15,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were purchased at an average price of $16.64 per share, with a total value of $249,600.00. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

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Ambac Financial Group Company Profile

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.

Institutional Ownership by Quarter for Ambac Financial Group (NASDAQ:AMBC)

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