Cubist Systematic Strategies LLC Reduces Stock Position in Ambac Financial Group, Inc. (NYSE:AMBC)

Cubist Systematic Strategies LLC reduced its position in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 89.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,808 shares of the company’s stock after selling 368,366 shares during the period. Cubist Systematic Strategies LLC owned 0.09% of Ambac Financial Group worth $554,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMBC. Barclays PLC boosted its holdings in shares of Ambac Financial Group by 30.9% during the third quarter. Barclays PLC now owns 376,102 shares of the company’s stock worth $4,216,000 after purchasing an additional 88,863 shares during the period. JPMorgan Chase & Co. raised its stake in Ambac Financial Group by 56.9% in the third quarter. JPMorgan Chase & Co. now owns 254,072 shares of the company’s stock worth $2,848,000 after buying an additional 92,100 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Ambac Financial Group by 4.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 164,474 shares of the company’s stock worth $2,081,000 after buying an additional 6,760 shares in the last quarter. Empowered Funds LLC raised its stake in Ambac Financial Group by 5.1% in the fourth quarter. Empowered Funds LLC now owns 181,633 shares of the company’s stock worth $2,298,000 after buying an additional 8,784 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Ambac Financial Group by 6.4% in the fourth quarter. Rhumbline Advisers now owns 140,999 shares of the company’s stock worth $1,784,000 after buying an additional 8,495 shares in the last quarter. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ambac Financial Group

In other Ambac Financial Group news, Director Jeffrey Scott Stein bought 15,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $6.46 per share, with a total value of $96,900.00. Following the completion of the purchase, the director now owns 50,000 shares of the company’s stock, valued at approximately $323,000. This trade represents a 42.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.20% of the company’s stock.

Ambac Financial Group Price Performance

AMBC stock opened at $7.94 on Friday. Ambac Financial Group, Inc. has a 1 year low of $5.99 and a 1 year high of $18.40. The company has a market cap of $405.66 million, a P/E ratio of -17.26 and a beta of 0.86. The firm has a 50-day moving average of $7.83 and a 200 day moving average of $10.41. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58.

Ambac Financial Group (NYSE:AMBC) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. The company had revenue of $15.68 million during the quarter, compared to the consensus estimate of $33.00 million. On average, sell-side analysts forecast that Ambac Financial Group, Inc. will post 0.6 EPS for the current year.

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.