SG Americas Securities LLC Purchases New Stake in Ambac Financial Group, Inc. (NYSE:AMBC)

SG Americas Securities LLC acquired a new position in shares of Ambac Financial Group, Inc. (NYSE:AMBC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,467 shares of the company’s stock, valued at approximately $185,000.

A number of other large investors also recently added to or reduced their stakes in the business. Quarry LP grew its position in shares of Ambac Financial Group by 830.7% during the 2nd quarter. Quarry LP now owns 2,364 shares of the company’s stock worth $30,000 after buying an additional 2,110 shares during the period. nVerses Capital LLC boosted its stake in Ambac Financial Group by 525.0% in the second quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock valued at $64,000 after acquiring an additional 4,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ambac Financial Group by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock worth $126,000 after acquiring an additional 1,637 shares during the period. Allspring Global Investments Holdings LLC raised its position 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 valued at $165,000 after acquiring an additional 5,145 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Ambac Financial Group in the 2nd quarter valued at $206,000. 84.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ambac Financial Group news, General Counsel Stephen Michael Ksenak bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $11.00 per share, with a total value of $55,000.00. Following the purchase, the general counsel now owns 116,609 shares in the company, valued at $1,282,699. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kristi Ann Matus purchased 2,700 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were bought at an average cost of $11.27 per share, for a total transaction of $30,429.00. Following the completion of the acquisition, the director now directly owns 2,700 shares in the company, valued at approximately $30,429. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stephen Michael Ksenak acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $11.00 per share, with a total value of $55,000.00. Following the completion of the acquisition, the general counsel now owns 116,609 shares of the company’s stock, valued at $1,282,699. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 37,500 shares of company stock worth $407,445 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Ambac Financial Group Price Performance

Shares of AMBC stock opened at $11.50 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.37. Ambac Financial Group, Inc. has a 12-month low of $10.12 and a 12-month high of $18.45. The firm has a fifty day moving average of $11.30 and a 200-day moving average of $13.15. The firm has a market capitalization of $520.09 million, a price-to-earnings ratio of 8.78 and a beta of 1.23.

Ambac Financial Group (NYSE:AMBC) last posted its earnings results on Monday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $105.00 million during the quarter. During the same period last year, the firm posted $0.07 earnings per share. On average, equities research analysts forecast that Ambac Financial Group, Inc. will post 1.3 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on AMBC shares. StockNews.com cut Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Roth Mkm upgraded Ambac Financial Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th. Finally, Roth Capital raised Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 18th.

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.