Ambac Financial Group, Inc. (AMBC) CEO Buys $86,600.00 in Stock

Ambac Financial Group, Inc. (NASDAQ:AMBC) CEO Claude Leblanc acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average cost of $17.32 per share, with a total value of $86,600.00. Following the completion of the acquisition, the chief executive officer now owns 22,500 shares in the company, valued at approximately $389,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Claude Leblanc also recently made the following trade(s):

  • On Friday, March 17th, Claude Leblanc acquired 20,000 shares of Ambac Financial Group stock. The shares were purchased at an average cost of $19.55 per share, with a total value of $391,000.00.

Ambac Financial Group (NASDAQ:AMBC) last released its earnings results on Wednesday, May 10th. The financial services provider reported ($2.01) earnings per share for the quarter, missing the consensus estimate of $3.01 by $5.02. Ambac Financial Group had a net margin of 126.93% and a return on equity of 46.96%. The firm had revenue of $126.20 million during the quarter, compared to the consensus estimate of $136.46 million. During the same period in the prior year, the business posted $4.82 earnings per share. Ambac Financial Group’s quarterly revenue was down 46.9% compared to the same quarter last year.

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Institutional investors have recently added to or reduced their stakes in the stock. Sessa Capital IM L.P. boosted its position in Ambac Financial Group by 8.9% in the first quarter. Sessa Capital IM L.P. now owns 872,793 shares of the financial services provider’s stock valued at $16,461,000 after buying an additional 71,624 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in Ambac Financial Group by 79.0% in the first quarter. Tudor Investment Corp ET AL now owns 18,800 shares of the financial services provider’s stock worth $355,000 after buying an additional 8,300 shares during the period. Whitebox Advisors LLC bought a new position in Ambac Financial Group during the first quarter worth approximately $1,171,000. EJF Capital LLC boosted its position in Ambac Financial Group by 71.0% in the first quarter. EJF Capital LLC now owns 1,261,376 shares of the financial services provider’s stock worth $23,790,000 after buying an additional 523,550 shares during the period. Finally, AQR Capital Management LLC boosted its position in Ambac Financial Group by 107.3% in the first quarter. AQR Capital Management LLC now owns 867,025 shares of the financial services provider’s stock worth $16,352,000 after buying an additional 448,694 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on the stock. BTIG Research reaffirmed a “buy” rating and set a $39.00 price objective (up from $28.00) on shares of Ambac Financial Group in a report on Thursday, May 11th. MKM Partners raised shares of Ambac Financial Group from a “sell” rating to a “neutral” rating and set a $17.00 price objective for the company in a report on Friday, May 12th.

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