Boussard & Gavaudan Investment Management LLP Makes New Investment in Ambac Financial Group, Inc. (NASDAQ:AMBC)

Boussard & Gavaudan Investment Management LLP purchased a new position in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 844,500 shares of the financial services provider’s stock, valued at approximately $12,034,000. Ambac Financial Group comprises 2.3% of Boussard & Gavaudan Investment Management LLP’s holdings, making the stock its 7th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in Ambac Financial Group by 41.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,408 shares of the financial services provider’s stock worth $51,000 after buying an additional 701 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ambac Financial Group by 47.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,410 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,414 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Ambac Financial Group by 1,022.0% during the first quarter. Tower Research Capital LLC TRC now owns 4,488 shares of the financial services provider’s stock worth $55,000 after buying an additional 4,088 shares in the last quarter. Bank of Montreal Can grew its position in Ambac Financial Group by 36.6% during the fourth quarter. Bank of Montreal Can now owns 6,117 shares of the financial services provider’s stock worth $132,000 after buying an additional 1,639 shares in the last quarter. Finally, Community Capital Management Inc. grew its position in Ambac Financial Group by 6.7% during the first quarter. Community Capital Management Inc. now owns 16,000 shares of the financial services provider’s stock worth $197,000 after buying an additional 1,000 shares in the last quarter. 79.06% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on AMBC. BidaskClub downgraded Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, June 22nd. TheStreet cut Ambac Financial Group from a “c-” rating to a “d+” rating in a research note on Monday, March 16th.

NASDAQ AMBC opened at $13.29 on Thursday. The business has a fifty day moving average price of $14.24 and a two-hundred day moving average price of $17.20. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.30 and a quick ratio of 1.30. Ambac Financial Group, Inc. has a fifty-two week low of $8.74 and a fifty-two week high of $22.90. The stock has a market capitalization of $645.03 million, a PE ratio of -4.80 and a beta of 1.07.

Ambac Financial Group (NASDAQ:AMBC) last announced its quarterly earnings results on Monday, May 11th. The financial services provider reported ($5.75) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($5.22). Ambac Financial Group had a negative net margin of 27.53% and a positive return on equity of 10.17%. The firm had revenue of ($70.00) million during the quarter, compared to the consensus estimate of $59.41 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share.

In other news, CEO Claude Leblanc purchased 8,425 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $12.83 per share, for a total transaction of $108,092.75. 1.60% of the stock is currently owned by corporate insiders.

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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