Ambac Financial Group (AMBC) Sees Strong Trading Volume
Ambac Financial Group, Inc. (NASDAQ:AMBC) saw strong trading volume on Thursday . 958,502 shares were traded during trading, an increase of 171% from the previous session’s volume of 353,424 shares.The stock last traded at $15.80 and had previously closed at $14.51.
Separately, MKM Partners reaffirmed a “hold” rating on shares of Ambac Financial Group in a research report on Thursday, October 5th.
The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 7.46.
Ambac Financial Group (NASDAQ:AMBC) last released its quarterly earnings data on Wednesday, November 8th. The financial services provider reported ($3.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($4.22). Ambac Financial Group had a negative net margin of 60.33% and a negative return on equity of 9.68%. The company had revenue of $132.97 million for the quarter, compared to the consensus estimate of $125.84 million. During the same quarter in the previous year, the firm posted $3.23 earnings per share. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year.
In related news, CEO Claude Leblanc acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were bought at an average cost of $16.64 per share, for a total transaction of $249,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director C James Prieur acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average price of $14.02 per share, for a total transaction of $140,200.00. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Ambac Financial Group by 10.8% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 152,528 shares of the financial services provider’s stock worth $2,633,000 after acquiring an additional 14,902 shares during the last quarter. Sterling Capital Management LLC increased its stake in Ambac Financial Group by 12.5% in the 3rd quarter. Sterling Capital Management LLC now owns 35,100 shares of the financial services provider’s stock worth $606,000 after acquiring an additional 3,900 shares during the last quarter. California Public Employees Retirement System increased its stake in Ambac Financial Group by 7.3% in the 3rd quarter. California Public Employees Retirement System now owns 257,128 shares of the financial services provider’s stock worth $4,438,000 after acquiring an additional 17,428 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Ambac Financial Group in the 3rd quarter worth about $280,000. Finally, Sessa Capital IM L.P. increased its stake in Ambac Financial Group by 1.4% in the 3rd quarter. Sessa Capital IM L.P. now owns 601,585 shares of the financial services provider’s stock worth $10,383,000 after acquiring an additional 8,400 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.
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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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