Ambac Financial Group (NYSE:AMBC) CEO Purchases $213,500.00 in Stock

Ambac Financial Group, Inc. (NYSE:AMBC) CEO Claude Leblanc bought 25,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was bought at an average price of $8.54 per share, with a total value of $213,500.00. Following the transaction, the chief executive officer owned 1,021,777 shares in the company, valued at approximately $8,725,975.58. This represents a 2.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Claude Leblanc also recently made the following trade(s):

• On Monday, August 11th, Claude Leblanc bought 25,000 shares of Ambac Financial Group stock. The stock was bought at an average price of $7.03 per share, with a total value of $175,750.00.

Ambac Financial Group Stock Up 2.1%

AMBC stock opened at $8.99 on Friday. Ambac Financial Group, Inc. has a 12-month low of $5.99 and a 12-month high of $13.64. The company has a market cap of $417.09 million, a price-to-earnings ratio of -0.66 and a beta of 0.96. The company has a 50 day moving average of $8.70 and a two-hundred day moving average of $7.99.

Ambac Financial Group (NYSE:AMBC) last released its earnings results on Thursday, August 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Ambac Financial Group had a negative net margin of 215.40% and a negative return on equity of 3.50%. The company had revenue of $16.20 million during the quarter, compared to the consensus estimate of $55.59 million. On average, research analysts anticipate that Ambac Financial Group, Inc. will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Continental General Insurance Co. bought a new position in shares of Ambac Financial Group during the 2nd quarter worth about $8,650,000. Gendell Jeffrey L boosted its position in shares of Ambac Financial Group by 99.0% during the 2nd quarter. Gendell Jeffrey L now owns 1,198,420 shares of the company’s stock valued at $8,509,000 after acquiring an additional 596,134 shares in the last quarter. Geode Capital Management LLC boosted its position 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 in the last quarter. Prescott Group Capital Management L.L.C. boosted its position in shares of Ambac Financial Group by 98.0% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 875,977 shares of the company’s stock valued at $6,219,000 after acquiring an additional 433,613 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Ambac Financial Group by 7.1% during the 1st quarter. Deutsche Bank AG now owns 723,250 shares of the company’s stock valued at $6,328,000 after acquiring an additional 48,117 shares in the last quarter. Institutional investors own 84.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMBC shares. Truist Financial assumed coverage on shares of Ambac Financial Group in a research report on Tuesday, July 15th. They set a “buy” rating and a $10.00 target price on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Ambac Financial Group in a research note on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.00.

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.