Dark Forest Capital Management LP Sells 24,076 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Dark Forest Capital Management LP cut its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 63.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,007 shares of the company’s stock after selling 24,076 shares during the period. Dark Forest Capital Management LP’s holdings in Ambac Financial Group were worth $180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMBC. Marshall Wace LLP raised its position in Ambac Financial Group by 397.4% during the second quarter. Marshall Wace LLP now owns 345,715 shares of the company’s stock valued at $4,432,000 after purchasing an additional 276,210 shares during the period. Gendell Jeffrey L boosted its position in Ambac Financial Group by 118.0% in the 1st quarter. Gendell Jeffrey L now owns 434,313 shares of the company’s stock valued at $6,788,000 after buying an additional 235,058 shares during the period. American Century Companies Inc. increased its holdings in Ambac Financial Group by 19.0% during the 2nd quarter. American Century Companies Inc. now owns 797,096 shares of the company’s stock worth $10,219,000 after purchasing an additional 127,145 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Ambac Financial Group in the second quarter valued at about $1,149,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Ambac Financial Group by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,952,961 shares of the company’s stock worth $37,857,000 after purchasing an additional 87,077 shares during the period. 84.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ambac Financial Group

In other news, General Counsel Stephen Michael Ksenak purchased 5,000 shares of the stock in a transaction that occurred 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 acquisition, the general counsel now directly owns 116,609 shares in the company, valued at approximately $1,282,699. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, General Counsel Stephen Michael Ksenak bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $11.00 per share, with a total value of $55,000.00. Following the completion of the transaction, the general counsel now owns 116,609 shares of the company’s stock, valued at $1,282,699. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey Scott Stein bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $10.82 per share, for a total transaction of $270,500.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $378,700. The disclosure for this purchase can be found here. Insiders purchased 37,500 shares of company stock worth $407,445 over the last 90 days. 5.00% of the stock is currently owned by insiders.

Ambac Financial Group Stock Down 0.2 %

Shares of AMBC opened at $11.21 on Tuesday. 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 1 year low of $10.12 and a 1 year high of $18.45. The stock has a market capitalization of $506.97 million, a PE ratio of 8.56 and a beta of 1.24. The company’s 50-day simple moving average is $11.45 and its 200-day simple moving average is $13.59.

Ambac Financial Group (NYSE:AMBC) last released its quarterly earnings data 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 return on equity of 10.79% and a net margin of 19.27%. The business had revenue of $105.00 million for the quarter. During the same period in the prior year, the company posted $0.07 earnings per share. Analysts forecast that Ambac Financial Group, Inc. will post 1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Roth Capital upgraded shares of Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Roth Mkm upgraded Ambac Financial Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $15.00 in a research report on Wednesday, September 18th. Finally, 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.