VELA Investment Management LLC Buys Shares of 62,584 Ambac Financial Group, Inc. (NYSE:AMBC)

VELA Investment Management LLC bought a new stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 62,584 shares of the company’s stock, valued at approximately $792,000. VELA Investment Management LLC owned approximately 0.13% of Ambac Financial Group at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. PDT Partners LLC raised its holdings in Ambac Financial Group by 1.7% during the third quarter. PDT Partners LLC now owns 63,382 shares of the company’s stock valued at $711,000 after buying an additional 1,032 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of Ambac Financial Group by 0.7% in the third quarter. Public Sector Pension Investment Board now owns 172,656 shares of the company’s stock worth $1,935,000 after purchasing an additional 1,200 shares during the period. Point72 DIFC Ltd bought a new position in shares of Ambac Financial Group in the third quarter worth about $46,000. Principal Financial Group Inc. increased its stake in shares of Ambac Financial Group by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 229,954 shares of the company’s stock worth $2,909,000 after purchasing an additional 6,589 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in shares of 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 purchasing an additional 6,760 shares during the period. 84.49% of the stock is currently owned by institutional investors.

Ambac Financial Group Trading Down 10.8 %

Ambac Financial Group stock opened at $10.40 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.58 and a current ratio of 0.58. The business’s 50-day simple moving average is $11.69 and its 200-day simple moving average is $11.71. The firm has a market capitalization of $493.19 million, a PE ratio of -22.60 and a beta of 1.23. Ambac Financial Group, Inc. has a 52 week low of $9.40 and a 52 week high of $18.45.

Ambac Financial Group (NYSE:AMBC) last released its 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). Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. The firm had revenue of $18.93 million for the quarter, compared to analyst estimates of $24.83 million. Equities research analysts forecast that Ambac Financial Group, Inc. will post 0.6 earnings per share 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.