Mraz Amerine & Associates Inc. Grows Stock Holdings in Ambac Financial Group, Inc. (NASDAQ:AMBC)

Mraz Amerine & Associates Inc. increased its stake in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,100 shares of the financial services provider’s stock after buying an additional 2,000 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Ambac Financial Group were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Asset Dedication LLC purchased a new stake in Ambac Financial Group during the first quarter worth about $25,000. Macquarie Group Ltd. boosted its holdings in Ambac Financial Group by 183.3% during the fourth quarter. Macquarie Group Ltd. now owns 1,700 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,100 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Ambac Financial Group by 104.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock worth $31,000 after buying an additional 892 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its holdings in shares of Ambac Financial Group by 5.9% in the first quarter. Piedmont Investment Advisors Inc. now owns 11,421 shares of the financial services provider’s stock valued at $207,000 after purchasing an additional 633 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Ambac Financial Group by 74.6% in the first quarter. BNP Paribas Arbitrage SA now owns 12,621 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 5,393 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ AMBC traded up $0.23 on Friday, hitting $18.70. The company’s stock had a trading volume of 1,192,300 shares, compared to its average volume of 258,702. Ambac Financial Group, Inc. has a 12-month low of $14.44 and a 12-month high of $22.36. The company has a market capitalization of $851.79 million, a price-to-earnings ratio of 70.35 and a beta of 1.09. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.33 and a quick ratio of 1.26. The stock has a 50 day moving average of $17.76 and a 200-day moving average of $17.95.

Ambac Financial Group (NASDAQ:AMBC) last announced its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.76). Ambac Financial Group had a negative net margin of 78.82% and a positive return on equity of 0.72%. The business had revenue of $89.13 million during the quarter, compared to analysts’ expectations of $76.49 million. During the same period last year, the company earned $0.78 EPS. The firm’s revenue for the quarter was down 40.8% on a year-over-year basis.

Several analysts have issued reports on the stock. BidaskClub raised shares of Ambac Financial Group from a “buy” rating to a “strong-buy” rating in a report on Thursday. MKM Partners reduced their price target on shares of Ambac Financial Group to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, June 12th. TheStreet downgraded shares of Ambac Financial Group from a “c” rating to a “d+” rating in a report on Tuesday, May 14th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $26.00 price target on shares of Ambac Financial Group in a report on Sunday, August 11th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.50.

In other Ambac Financial Group news, Director Jeffrey Scott Stein purchased 3,000 shares of Ambac Financial Group stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $15.42 per share, with a total value of $46,260.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $154,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Claude Leblanc purchased 2,000 shares of Ambac Financial Group stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $15.95 per share, for a total transaction of $31,900.00. Following the acquisition, the chief executive officer now directly owns 99,030 shares of the company’s stock, valued at $1,579,528.50. The disclosure for this purchase can be found here. Insiders acquired 9,330 shares of company stock worth $143,317 in the last ninety days. Insiders own 1.60% of the company’s stock.

Ambac Financial Group Profile

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to public and private sector clients in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; and credit derivative contracts and Interest rate derivative transactions.

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Institutional Ownership by Quarter for Ambac Financial Group (NASDAQ:AMBC)

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