Cubist Systematic Strategies LLC Sells 368,366 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Cubist Systematic Strategies LLC lowered its position in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 89.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 43,808 shares of the company’s stock after selling 368,366 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Ambac Financial Group were worth $554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMBC. Aquatic Capital Management LLC purchased a new stake in Ambac Financial Group in the fourth quarter worth approximately $105,000. Bayesian Capital Management LP purchased a new stake in Ambac Financial Group in the fourth quarter worth approximately $127,000. Aigen Investment Management LP purchased a new stake in Ambac Financial Group in the fourth quarter worth approximately $146,000. AXQ Capital LP purchased a new stake in Ambac Financial Group in the fourth quarter worth approximately $153,000. Finally, Bank of Montreal Can boosted its holdings in Ambac Financial Group by 19.5% in the fourth quarter. Bank of Montreal Can now owns 12,357 shares of the company’s stock worth $156,000 after purchasing an additional 2,018 shares during the last quarter. Institutional investors own 84.49% of the company’s stock.

Ambac Financial Group Trading Up 21.6%

Shares of Ambac Financial Group stock opened at $7.94 on Friday. The company’s fifty day simple moving average is $7.83 and its 200-day simple moving average is $10.41. The stock has a market capitalization of $405.66 million, a PE ratio of -17.26 and a beta of 0.86. Ambac Financial Group, Inc. has a 1-year low of $5.99 and a 1-year high of $18.40. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58.

Ambac Financial Group (NYSE:AMBC) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $15.68 million for the quarter, compared to analysts’ expectations of $33.00 million. Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. As a group, equities analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Ambac Financial Group

In other news, Director Jeffrey Scott Stein bought 15,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average price of $6.46 per share, for a total transaction of $96,900.00. Following the purchase, the director now owns 50,000 shares in the company, valued at $323,000. This represents a 42.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 6.20% of the company’s stock.

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.