Ambac Financial Group (NASDAQ:AMBC) Sets New 52-Week Low at $14.65
Ambac Financial Group, Inc. (NASDAQ:AMBC)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $14.65 and last traded at $14.73, with a volume of 2932 shares changing hands. The stock had previously closed at $14.87.
Several brokerages recently issued reports on AMBC. BidaskClub raised shares of Ambac Financial Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday. TheStreet downgraded shares of Ambac Financial Group from a “c” rating to a “d+” rating in a research note on Tuesday, May 14th.
The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 5.20.
In related news, CEO Claude Leblanc purchased 13,500 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $16.81 per share, with a total value of $226,935.00. Following the completion of the transaction, the chief executive officer now owns 71,125 shares of the company’s stock, valued at approximately $1,195,611.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert Bryan Eisman purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $15.17 per share, with a total value of $30,340.00. Following the transaction, the chief accounting officer now directly owns 22,183 shares of the company’s stock, valued at approximately $336,516.11. The disclosure for this purchase can be found here. Insiders have purchased 29,330 shares of company stock worth $477,972 in the last three months. Insiders own 1.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Asset Dedication LLC acquired a new position in Ambac Financial Group during the first quarter worth approximately $25,000. Macquarie Group Ltd. increased its position in Ambac Financial Group by 183.3% during the fourth quarter. Macquarie Group Ltd. now owns 1,700 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,100 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Ambac Financial Group by 104.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 892 shares during the last quarter. Kore Private Wealth LLC acquired a new position in Ambac Financial Group during the first quarter worth approximately $36,000. Finally, Pearl River Capital LLC acquired a new position in Ambac Financial Group during the fourth quarter worth approximately $43,000. 80.80% of the stock is owned by hedge funds and other institutional investors.
About Ambac Financial Group (NASDAQ:AMBC)
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.
Further Reading: Hedge Funds Explained
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