Ambac Financial Group, Inc. (NYSE:AMBC) Director Purchases $96,900.00 in Stock

Ambac Financial Group, Inc. (NYSE:AMBC) Director Jeffrey Scott Stein purchased 15,000 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average price of $6.46 per share, with a total value of $96,900.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at $323,000. This represents a 42.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ambac Financial Group Stock Up 2.1%

NYSE AMBC opened at $8.07 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10. Ambac Financial Group, Inc. has a 1-year low of $5.99 and a 1-year high of $18.40. The company has a 50 day moving average of $7.83 and a 200-day moving average of $10.38. The company has a market cap of $412.20 million, a price-to-earnings ratio of -17.54 and a beta of 0.86.

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

Institutional Investors Weigh In On Ambac Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Ambac Financial Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,046,510 shares of the company’s stock valued at $13,242,000 after purchasing an additional 17,554 shares in the last quarter. Wolf Hill Capital Management LP acquired a new position in Ambac Financial Group during the fourth quarter valued at approximately $12,650,000. American Century Companies Inc. raised its position in Ambac Financial Group by 3.9% during the fourth quarter. American Century Companies Inc. now owns 929,345 shares of the company’s stock valued at $11,756,000 after purchasing an additional 34,861 shares in the last quarter. Nuveen Asset Management LLC raised its position in Ambac Financial Group by 65.5% during the fourth quarter. Nuveen Asset Management LLC now owns 824,357 shares of the company’s stock valued at $10,428,000 after purchasing an additional 326,149 shares in the last quarter. Finally, Deutsche Bank AG raised its position 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 in the last quarter. 84.49% of the stock is currently owned by institutional investors and hedge funds.

About Ambac Financial Group

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.