Ambac Financial Group, Inc. $AMBC Stock Position Raised by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its position in Ambac Financial Group, Inc. (NYSE:AMBC) by 232.6% in the 2nd quarter, Holdings Channel reports. The fund owned 41,667 shares of the company’s stock after buying an additional 29,140 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Ambac Financial Group were worth $296,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Ambac Financial Group by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 4,463 shares of the company’s stock valued at $39,000 after acquiring an additional 2,934 shares in the last quarter. CWM LLC lifted its position in Ambac Financial Group by 65,933.3% in the 2nd quarter. CWM LLC now owns 3,962 shares of the company’s stock worth $28,000 after buying an additional 3,956 shares in the last quarter. Mraz Amerine & Associates Inc. lifted its position in Ambac Financial Group by 31.2% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 19,550 shares of the company’s stock worth $169,000 after buying an additional 4,650 shares in the last quarter. AlphaQuest LLC purchased a new stake in Ambac Financial Group in the 1st quarter worth approximately $61,000. Finally, KLCM Advisors Inc. lifted its position in Ambac Financial Group by 71.4% in the 1st quarter. KLCM Advisors Inc. now owns 24,000 shares of the company’s stock worth $210,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 84.49% of the company’s stock.

Insider Buying and Selling at Ambac Financial Group

In other Ambac Financial Group news, CEO Claude Leblanc purchased 25,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were acquired at an average price of $8.54 per share, for a total transaction of $213,500.00. Following the acquisition, the chief executive officer owned 1,021,777 shares of the company’s stock, valued at $8,725,975.58. This trade represents a 2.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.20% of the company’s stock.

Ambac Financial Group Trading Up 1.4%

Ambac Financial Group stock opened at $8.43 on Friday. The company has a market capitalization of $390.92 million, a P/E ratio of -0.62 and a beta of 0.96. The firm’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $7.99. Ambac Financial Group, Inc. has a 1-year low of $5.99 and a 1-year high of $13.64.

Ambac Financial Group (NYSE:AMBC) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $16.20 million for the quarter, compared to the consensus estimate of $55.59 million. Ambac Financial Group had a negative net margin of 215.40% and a negative return on equity of 3.50%. On average, equities research analysts predict that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMBC has been the subject of a number of research analyst reports. Truist Financial initiated coverage on shares of Ambac Financial Group in a research report on Tuesday, July 15th. They issued a “buy” rating and a $10.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ambac Financial Group in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.00.

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.