Ambac Financial Group, Inc. (NYSE:AMBC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 21.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,219 shares of the company’s stock after selling 82,559 shares during the period. Bank of New York Mellon Corp’s holdings in Ambac Financial Group were worth $3,747,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AMBC. Point72 DIFC Ltd acquired a new stake in shares of Ambac Financial Group during the 3rd quarter valued at approximately $46,000. XTX Topco Ltd acquired a new position in Ambac Financial Group in the third quarter worth $172,000. Wexford Capital LP bought a new stake in Ambac Financial Group during the third quarter valued at $202,000. Intech Investment Management LLC raised its holdings in shares of Ambac Financial Group by 47.6% during the third quarter. Intech Investment Management LLC now owns 23,708 shares of the company’s stock worth $266,000 after purchasing an additional 7,644 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Ambac Financial Group by 81.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 24,044 shares of the company’s stock worth $270,000 after purchasing an additional 10,768 shares during the period. Institutional investors own 84.49% of the company’s stock.

Ambac Financial Group Stock Performance

Shares of NYSE AMBC opened at $8.49 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.10. The firm’s 50-day moving average price is $10.78 and its two-hundred day moving average price is $11.49. Ambac Financial Group, Inc. has a 52-week low of $7.92 and a 52-week high of $18.45. The stock has a market capitalization of $392.36 million, a P/E ratio of -18.45 and a beta of 1.26.

Ambac Financial Group (NYSE:AMBC) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). The business had revenue of $18.93 million for the quarter, compared to the consensus estimate of $24.83 million. Ambac Financial Group had a negative net margin of 6.28% and a positive return on equity of 2.51%. As a group, sell-side analysts forecast that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

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.