Ambac Financial Group, Inc. $AMBC Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 256.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,053 shares of the company’s stock after buying an additional 79,854 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ambac Financial Group were worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its stake in shares of Ambac Financial Group by 7.1% during the 1st quarter. Deutsche Bank AG now owns 723,250 shares of the company’s stock worth $6,328,000 after acquiring an additional 48,117 shares in the last quarter. Millennium Management LLC raised its holdings in Ambac Financial Group by 142.7% during the first quarter. Millennium Management LLC now owns 508,686 shares of the company’s stock worth $4,451,000 after purchasing an additional 299,094 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its holdings in Ambac Financial Group by 127.0% in the first quarter. Prescott Group Capital Management L.L.C. now owns 442,364 shares of the company’s stock valued at $3,871,000 after purchasing an additional 247,462 shares during the last quarter. Third Avenue Management LLC grew its holdings in Ambac Financial Group by 59.0% in the first quarter. Third Avenue Management LLC now owns 366,461 shares of the company’s stock valued at $3,207,000 after purchasing an additional 136,045 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Ambac Financial Group by 139.5% in the second quarter. Y Intercept Hong Kong Ltd now owns 350,701 shares of the company’s stock valued at $2,490,000 after buying an additional 204,255 shares in the last quarter. 84.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Ambac Financial Group in a research report on Tuesday, November 11th. Truist Financial lifted their target price on shares of Ambac Financial Group from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Ambac Financial Group presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Ambac Financial Group Stock Down 0.7%

AMBC opened at $9.11 on Wednesday. The firm has a market cap of $399.00 million, a P/E ratio of -0.67 and a beta of 0.96. Ambac Financial Group, Inc. has a 52 week low of $5.99 and a 52 week high of $13.64. The business’s fifty day simple moving average is $8.75 and its 200 day simple moving average is $8.19.

Ambac Financial Group (NYSE:AMBC) last announced its earnings results on Monday, November 10th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02. The firm had revenue of $66.61 million during the quarter, compared to the consensus estimate of $56.77 million. Ambac Financial Group had a negative net margin of 215.40% and a negative return on equity of 3.50%. As a group, equities analysts expect that Ambac Financial Group, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Ambac Financial Group

In other news, CEO Claude Leblanc acquired 25,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was acquired at an average price of $8.54 per share, with a total value of $213,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,021,777 shares in the company, valued at approximately $8,725,975.58. This represents a 2.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.20% of the stock is currently owned by corporate insiders.

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.