Marshall Wace LLP Acquires 276,210 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Marshall Wace LLP raised its stake in Ambac Financial Group, Inc. (NYSE:AMBC) by 397.4% in the second quarter, Holdings Channel reports. The fund owned 345,715 shares of the company’s stock after purchasing an additional 276,210 shares during the quarter. Marshall Wace LLP’s holdings in Ambac Financial Group were worth $4,432,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC increased its holdings in shares of Ambac Financial Group by 525.0% during the second quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock worth $64,000 after buying an additional 4,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ambac Financial Group by 20.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock worth $126,000 after purchasing an additional 1,637 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Ambac Financial Group by 95.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock valued at $165,000 after purchasing an additional 5,145 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Ambac Financial Group during the second quarter valued at about $206,000. Finally, Versor Investments LP acquired a new stake in shares of Ambac Financial Group during the second quarter valued at about $218,000. 84.49% of the stock is currently owned by institutional investors and hedge funds.

Ambac Financial Group Stock Performance

NYSE:AMBC opened at $11.21 on Wednesday. The firm’s fifty day moving average is $11.42 and its 200-day moving average is $13.57. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.62 and a current ratio of 0.62. Ambac Financial Group, Inc. has a 52 week low of $10.12 and a 52 week high of $18.45. The firm has a market cap of $506.97 million, a P/E ratio of 8.56 and a beta of 1.24.

Ambac Financial Group (NYSE:AMBC) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $105.00 million for the quarter. Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. During the same quarter in the prior year, the business earned $0.07 earnings per share. Equities analysts expect that Ambac Financial Group, Inc. will post 1.3 earnings per share for the current year.

Insider Buying and Selling at Ambac Financial Group

In related news, CFO David Trick acquired 3,700 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $10.76 per share, for a total transaction of $39,812.00. Following the purchase, the chief financial officer now directly owns 156,082 shares of the company’s stock, valued at approximately $1,679,442.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Stephen Michael Ksenak purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $11.00 per share, for a total transaction of $55,000.00. Following the completion of the acquisition, the general counsel now owns 116,609 shares in the company, valued at $1,282,699. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David Trick acquired 3,700 shares of Ambac Financial Group stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $10.76 per share, with a total value of $39,812.00. Following the purchase, the chief financial officer now directly owns 156,082 shares of the company’s stock, valued at approximately $1,679,442.32. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 37,500 shares of company stock valued at $407,445. 5.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMBC has been the subject of a number of research reports. Roth Mkm upgraded shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.00 to $15.00 in a report on Wednesday, September 18th. StockNews.com cut shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, Roth Capital upgraded shares of Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 18th.

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.