Zurcher Kantonalbank Zurich Cantonalbank Buys 1,637 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ambac Financial Group, Inc. (NYSE:AMBC) by 20.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,826 shares of the company’s stock after buying an additional 1,637 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ambac Financial Group were worth $126,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AMBC. Allspring Global Investments Holdings LLC boosted its stake in shares of Ambac Financial Group by 95.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock worth $165,000 after purchasing an additional 5,145 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Ambac Financial Group during the fourth quarter valued at about $165,000. State Board of Administration of Florida Retirement System boosted its stake in Ambac Financial Group by 27.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,040 shares of the company’s stock valued at $248,000 after acquiring an additional 3,410 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Ambac Financial Group by 55.3% in the 1st quarter. BNP Paribas Financial Markets now owns 23,370 shares of the company’s stock worth $365,000 after purchasing an additional 8,318 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in Ambac Financial Group by 4.9% in the first quarter. Illinois Municipal Retirement Fund now owns 27,952 shares of the company’s stock worth $437,000 after acquiring an additional 1,307 shares in the last quarter. 84.49% of the stock is owned by hedge funds and other institutional investors.

Ambac Financial Group Trading Down 1.4 %

Shares of Ambac Financial Group stock opened at $10.63 on Tuesday. Ambac Financial Group, Inc. has a fifty-two week low of $10.12 and a fifty-two week high of $18.45. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $480.74 million, a P/E ratio of 8.11 and a beta of 1.24. The firm has a 50-day simple moving average of $11.86 and a two-hundred day simple moving average of $14.07.

Ambac Financial Group (NYSE:AMBC) last announced its earnings results on Monday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. The company had revenue of $105.00 million during the quarter. During the same quarter last year, the business posted $0.07 EPS. As a group, equities analysts predict that Ambac Financial Group, Inc. will post 1.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ambac Financial Group news, CFO David Trick purchased 3,700 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $10.76 per share, for a total transaction of $39,812.00. Following the completion of the transaction, the chief financial officer now owns 156,082 shares of the company’s stock, valued at approximately $1,679,442.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO David Trick acquired 3,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $10.76 per share, with a total value of $39,812.00. Following the completion of the acquisition, the chief financial officer now owns 156,082 shares of the company’s stock, valued at approximately $1,679,442.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Scott Stein purchased 25,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $10.82 per share, with a total value of $270,500.00. Following the acquisition, the director now directly owns 35,000 shares in the company, valued at $378,700. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 34,800 shares of company stock worth $377,016. 5.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th.

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.