Traders Buy High Volume of Ambac Financial Group Put Options (AMBC)
Ambac Financial Group, Inc. (NASDAQ:AMBC) was the target of some unusual options trading on Thursday. Stock investors purchased 5,994 put options on the stock. This is an increase of approximately Infinity compared to the average volume of 0 put options.
In other news, CEO Claude Leblanc purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were acquired at an average price of $16.64 per share, with a total value of $249,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its holdings in Ambac Financial Group by 5.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,093 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 330 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Ambac Financial Group in the third quarter valued at about $184,000. Macquarie Group Ltd. bought a new stake in Ambac Financial Group in the third quarter valued at about $190,000. BNP Paribas Arbitrage SA increased its holdings in Ambac Financial Group by 35.7% in the second quarter. BNP Paribas Arbitrage SA now owns 14,211 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 3,737 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Ambac Financial Group in the second quarter valued at about $257,000. Institutional investors and hedge funds own 72.87% of the company’s stock.
Shares of Ambac Financial Group (AMBC) opened at $13.81 on Tuesday. The company has a debt-to-equity ratio of 7.46, a current ratio of 0.38 and a quick ratio of 0.38. Ambac Financial Group has a fifty-two week low of $13.17 and a fifty-two week high of $27.25.
Ambac Financial Group (NASDAQ:AMBC) last released its quarterly earnings data on Wednesday, November 8th. The financial services provider reported ($3.30) EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($4.22). The company had revenue of $132.97 million during the quarter, compared to the consensus estimate of $125.84 million. Ambac Financial Group had a negative net margin of 60.33% and a negative return on equity of 9.68%. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.23 EPS.
A number of research firms recently commented on AMBC. MKM Partners reiterated a “hold” rating on shares of Ambac Financial Group in a report on Thursday, October 5th. BTIG Research reiterated a “buy” rating and issued a $26.00 price objective on shares of Ambac Financial Group in a report on Saturday, July 22nd.
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Ambac Financial Group Company Profile
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.
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