Exchange Traded Concepts LLC Has $1.77 Million Stake in Ambac Financial Group, Inc. (NYSE:AMBC)

Exchange Traded Concepts LLC raised its position in Ambac Financial Group, Inc. (NYSE:AMBC) by 55.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,714 shares of the company’s stock after purchasing an additional 56,036 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Ambac Financial Group were worth $1,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Ambac Financial Group in the third quarter valued at about $185,000. Quarry LP increased its position in shares of Ambac Financial Group by 830.7% in the second quarter. Quarry LP now owns 2,364 shares of the company’s stock valued at $30,000 after acquiring an additional 2,110 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of Ambac Financial Group in the second quarter valued at about $1,149,000. Caxton Associates LP increased its position in shares of Ambac Financial Group by 10.9% in the second quarter. Caxton Associates LP now owns 25,277 shares of the company’s stock valued at $324,000 after acquiring an additional 2,485 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Ambac Financial Group by 395.6% in the second quarter. Squarepoint Ops LLC now owns 105,440 shares of the company’s stock valued at $1,352,000 after acquiring an additional 84,164 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Trading Up 1.0 %

Ambac Financial Group stock opened at $11.72 on Wednesday. Ambac Financial Group, Inc. has a 52 week low of $10.12 and a 52 week high of $18.45. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $530.04 million, a P/E ratio of 8.95 and a beta of 1.23. The stock has a 50-day simple moving average of $11.20 and a 200 day simple moving average of $13.29.

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

Insider Transactions at Ambac Financial Group

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

Wall Street Analyst Weigh In

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