Third Avenue Management LLC Raises Stock Position in Ambac Financial Group, Inc. $AMBC

Third Avenue Management LLC raised its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 64.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603,391 shares of the company’s stock after buying an additional 236,930 shares during the quarter. Third Avenue Management LLC’s holdings in Ambac Financial Group were worth $4,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its position in Ambac Financial Group by 65,933.3% in the second quarter. CWM LLC now owns 3,962 shares of the company’s stock worth $28,000 after purchasing an additional 3,956 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Ambac Financial Group during the 1st quarter valued at about $61,000. DRW Securities LLC bought a new position in shares of Ambac Financial Group in the 1st quarter valued at about $94,000. State of Wyoming lifted its holdings in shares of 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 last quarter. Finally, Creative Planning purchased a new position in Ambac Financial Group in the second quarter worth about $145,000. Hedge funds and other institutional investors own 84.49% of the company’s stock.

Ambac Financial Group Price Performance

Ambac Financial Group stock opened at $9.04 on Monday. The firm has a market capitalization of $396.06 million, a P/E ratio of -0.66 and a beta of 0.96. Ambac Financial Group, Inc. has a 1-year low of $5.99 and a 1-year high of $13.64. The company’s 50-day moving average is $8.77 and its 200 day moving average is $8.26.

Ambac Financial Group (NYSE:AMBC) last released its earnings results on Monday, November 10th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. Ambac Financial Group had a negative return on equity of 3.50% and a negative net margin of 215.40%.The firm had revenue of $66.61 million for the quarter, compared to analysts’ expectations of $56.77 million. Research analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on AMBC. Truist Financial raised their price objective on Ambac Financial Group from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of Ambac Financial Group in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.00.

Insider Buying and Selling

In other Ambac Financial Group news, CEO Claude Leblanc bought 25,000 shares of Ambac Financial Group stock in a transaction on Wednesday, October 1st. The shares were acquired at an average price of $8.54 per share, for a total transaction of $213,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,021,777 shares in the company, valued at approximately $8,725,975.58. This trade represents a 2.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.20% of the stock is owned by company insiders.

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.