VELA Investment Management LLC Acquires Shares of 62,584 Ambac Financial Group, Inc. (NYSE:AMBC)

VELA Investment Management LLC acquired a new stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 62,584 shares of the company’s stock, valued at approximately $792,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new position in shares of Ambac Financial Group in the 3rd quarter worth approximately $46,000. Creative Planning acquired a new position in shares of Ambac Financial Group in the 3rd quarter worth approximately $156,000. XTX Topco Ltd acquired a new position in shares of Ambac Financial Group in the 3rd quarter worth approximately $172,000. Wexford Capital LP acquired a new position in shares of Ambac Financial Group in the 3rd quarter worth approximately $202,000. Finally, Intech Investment Management LLC boosted its holdings in shares of Ambac Financial Group by 47.6% in the 3rd quarter. Intech Investment Management LLC now owns 23,708 shares of the company’s stock worth $266,000 after acquiring an additional 7,644 shares in the last quarter. 84.49% of the stock is owned by institutional investors and hedge funds.

Ambac Financial Group Stock Down 10.8 %

Shares of AMBC opened at $10.40 on Friday. The company has a market capitalization of $493.19 million, a P/E ratio of -22.60 and a beta of 1.23. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58. Ambac Financial Group, Inc. has a one year low of $9.40 and a one year high of $18.45. The business’s 50 day simple moving average is $11.69 and its 200-day simple moving average is $11.71.

Ambac Financial Group (NYSE:AMBC) last announced its earnings results on Wednesday, February 26th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.18). The business had revenue of $18.93 million during the quarter, compared to analyst estimates of $24.83 million. Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. As a group, sell-side analysts predict that Ambac Financial Group, Inc. will post 0.6 EPS for the current fiscal year.

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.