Rhumbline Advisers Purchases 9,440 Shares of Ambac Financial Group, Inc. (NASDAQ:AMBC)

Rhumbline Advisers increased its position in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 6.9% in the third quarter, Holdings Channel.com reports. The fund owned 145,796 shares of the financial services provider’s stock after acquiring an additional 9,440 shares during the quarter. Rhumbline Advisers’ holdings in Ambac Financial Group were worth $2,850,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMBC. Bank of Montreal Can boosted its position in shares of Ambac Financial Group by 733.9% in the second quarter. Bank of Montreal Can now owns 4,303 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 3,787 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Ambac Financial Group by 5.6% in the second quarter. Crossmark Global Holdings Inc. now owns 14,800 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 790 shares during the period. Jefferies Group LLC bought a new position in shares of Ambac Financial Group in the second quarter valued at approximately $344,000. GSA Capital Partners LLP bought a new position in shares of Ambac Financial Group in the second quarter valued at approximately $348,000. Finally, Mraz Amerine & Associates Inc. boosted its position in shares of Ambac Financial Group by 10.0% in the second quarter. Mraz Amerine & Associates Inc. now owns 22,100 shares of the financial services provider’s stock valued at $372,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 82.10% of the company’s stock.

A number of equities analysts have recently commented on the stock. MKM Partners set a $20.00 price objective on shares of Ambac Financial Group and gave the company a “hold” rating in a research report on Wednesday, September 18th. BidaskClub lowered shares of Ambac Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, BTIG Research reiterated a “buy” rating and set a $26.00 target price on shares of Ambac Financial Group in a research report on Sunday, September 22nd.

Ambac Financial Group stock traded up $0.42 during mid-day trading on Tuesday, hitting $20.69. 1,661 shares of the company traded hands, compared to its average volume of 209,893. Ambac Financial Group, Inc. has a one year low of $14.44 and a one year high of $21.95. The stock has a market cap of $942.51 million, a price-to-earnings ratio of 5.83 and a beta of 1.06. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a fifty day moving average price of $19.89 and a 200-day moving average price of $18.10.

Ambac Financial Group (NASDAQ:AMBC) last announced its earnings results on Thursday, November 7th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.45. Ambac Financial Group had a negative net margin of 27.53% and a positive return on equity of 10.17%. The business had revenue of $216.16 million during the quarter, compared to analyst estimates of $138.68 million. During the same period in the previous year, the business posted ($0.48) earnings per share. Ambac Financial Group’s revenue for the quarter was up 61.3% on a year-over-year basis.

About Ambac Financial Group

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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