Systematic Financial Management LP reduced its holdings in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,570 shares of the financial services provider’s stock after selling 18,875 shares during the quarter. Systematic Financial Management LP owned about 0.18% of Ambac Financial Group worth $1,408,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC lifted its stake in shares of Ambac Financial Group by 34.5% during the second quarter. Evermore Global Advisors LLC now owns 964,587 shares of the financial services provider’s stock worth $16,736,000 after purchasing an additional 247,634 shares in the last quarter. Sound Point Capital Management LP acquired a new position in shares of Ambac Financial Group in the second quarter worth about $3,567,000. Candlewood Investment Group LP bought a new stake in Ambac Financial Group in the second quarter valued at about $1,794,000. Renaissance Technologies LLC increased its holdings in 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 buying an additional 80,400 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in Ambac Financial Group in the third quarter valued at about $1,037,000. 70.57% of the stock is owned by hedge funds and other institutional investors.
Ambac Financial Group, Inc. (NASDAQ:AMBC) traded up $0.45 during mid-day trading on Friday, reaching $14.79. 538,629 shares of the company’s stock were exchanged, compared to its average volume of 353,303. Ambac Financial Group, Inc. has a one year low of $13.17 and a one year high of $26.32. 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 posted its quarterly earnings data on Wednesday, November 8th. The financial services provider reported ($3.30) EPS for the quarter, missing the consensus estimate of $0.92 by ($4.22). The company had revenue of $132.97 million during the quarter, compared to the consensus estimate 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 company’s revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.23 earnings per share.
In other news, CEO Claude Leblanc purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, October 4th. The stock was bought at an average price of $16.64 per share, with a total value of $249,600.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director C James Prieur purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average cost of $14.02 per share, with a total value of $140,200.00. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.
Separately, MKM Partners reaffirmed a “hold” rating on shares of Ambac Financial Group in a report on Thursday, October 5th.
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Ambac Financial Group 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.
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