Assetmark Inc. acquired a new stake in Ambac Financial Group, Inc. (NYSE:AMBC – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 80,955 shares of the company’s stock, valued at approximately $1,253,000. Assetmark Inc. owned about 0.18% of Ambac Financial Group at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Point72 Hong Kong Ltd bought a new stake in shares of Ambac Financial Group during the 1st quarter worth approximately $26,000. Gyon Technologies Capital Management LP bought a new stake in shares of Ambac Financial Group during the 4th quarter worth approximately $28,000. Dorsey Wright & Associates bought a new stake in shares of Ambac Financial Group during the 4th quarter worth approximately $29,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Ambac Financial Group during the 1st quarter worth approximately $41,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Ambac Financial Group by 559.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,786 shares of the company’s stock worth $121,000 after acquiring an additional 6,606 shares during the last quarter. 85.31% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
AMBC has been the subject of a number of research analyst reports. StockNews.com raised Ambac Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Compass Point raised Ambac Financial Group from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday.
Ambac Financial Group Trading Down 1.7 %
Shares of NYSE AMBC opened at $13.84 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.72. The business has a fifty day simple moving average of $14.06 and a two-hundred day simple moving average of $14.87. The firm has a market cap of $627.26 million, a PE ratio of 1.30 and a beta of 1.13. Ambac Financial Group, Inc. has a twelve month low of $12.03 and a twelve month high of $17.75.
Ambac Financial Group (NYSE:AMBC – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.13. The business had revenue of $62.00 million during the quarter, compared to analyst estimates of $48.80 million. Ambac Financial Group had a return on equity of 46.53% and a net margin of 109.98%. During the same period in the previous year, the company posted $0.28 EPS. Analysts expect that Ambac Financial Group, Inc. will post -0.4 earnings per share for the current fiscal year.
About Ambac Financial Group
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.
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