Prescott Group Capital Management L.L.C. Increases Holdings in Ambac Financial Group, Inc. $AMBC

Prescott Group Capital Management L.L.C. raised its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 98.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 875,977 shares of the company’s stock after acquiring an additional 433,613 shares during the quarter. Ambac Financial Group makes up 0.7% of Prescott Group Capital Management L.L.C.’s investment portfolio, making the stock its 28th biggest holding. Prescott Group Capital Management L.L.C. owned about 1.89% of Ambac Financial Group worth $6,219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMBC. CWM LLC increased its stake in Ambac Financial Group by 65,933.3% in the second quarter. CWM LLC now owns 3,962 shares of the company’s stock valued at $28,000 after purchasing an additional 3,956 shares during the last quarter. AlphaQuest LLC purchased a new position in Ambac Financial Group during the 1st quarter worth approximately $61,000. KLCM Advisors Inc. increased its holdings in shares of Ambac Financial Group by 71.4% in the 1st quarter. KLCM Advisors Inc. now owns 24,000 shares of the company’s stock valued at $210,000 after acquiring an additional 10,000 shares during the period. DRW Securities LLC purchased a new position in Ambac Financial Group during the 1st quarter worth $94,000. Finally, State of Wyoming increased its position in Ambac Financial Group by 469.4% in the 1st quarter. State of Wyoming now owns 14,758 shares of the company’s stock valued at $129,000 after acquiring an additional 12,166 shares during the period. Institutional investors and hedge funds own 84.49% of the company’s stock.

Insider Buying and Selling at Ambac Financial Group

In other news, CEO Claude Leblanc purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was acquired at an average price of $8.54 per share, for a total transaction of $213,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,021,777 shares in the company, valued at $8,725,975.58. This represents a 2.51% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 6.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMBC has been the subject of several recent research reports. Truist Financial began coverage on Ambac Financial Group in a report on Tuesday, July 15th. They set a “buy” rating and a $10.00 price target for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ambac Financial Group in a report on Wednesday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.00.

Ambac Financial Group Stock Up 3.9%

Shares of NYSE AMBC opened at $8.50 on Friday. Ambac Financial Group, Inc. has a 52 week low of $5.99 and a 52 week high of $13.64. The stock has a market capitalization of $394.18 million, a price-to-earnings ratio of -0.62 and a beta of 0.96. The firm has a 50-day moving average price of $8.71 and a 200 day moving average price of $8.12.

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

Ambac Financial Group 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.