Ambac Financial Group, Inc. (NYSE:AMBC) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its stake in Ambac Financial Group, Inc. (NYSE:AMBC) by 52.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,634 shares of the company’s stock after selling 35,553 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Ambac Financial Group were worth $355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ambac Financial Group by 20.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock valued at $126,000 after acquiring an additional 1,637 shares during the period. nVerses Capital LLC lifted its stake in shares of Ambac Financial Group by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock valued at $64,000 after purchasing an additional 4,200 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Ambac Financial Group during the 2nd quarter worth about $218,000. Jackson Creek Investment Advisors LLC acquired a new stake in Ambac Financial Group during the 2nd quarter worth approximately $817,000. Finally, Texas Permanent School Fund Corp raised its holdings in Ambac Financial Group by 26.1% in the second quarter. Texas Permanent School Fund Corp now owns 49,890 shares of the company’s stock valued at $640,000 after buying an additional 10,336 shares during the period. 84.49% of the stock is currently owned by institutional investors and hedge funds.

Ambac Financial Group Stock Down 2.2 %

NYSE:AMBC opened at $13.25 on Wednesday. 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 company has a market capitalization of $628.62 million, a price-to-earnings ratio of -28.80 and a beta of 1.25. Ambac Financial Group, Inc. has a one year low of $10.12 and a one year high of $18.45. The stock has a 50-day simple moving average of $12.14 and a 200 day simple moving average of $12.05.

Insiders Place Their Bets

In other news, Director Kristi Ann Matus acquired 2,700 shares of Ambac Financial Group stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average cost of $11.27 per share, for a total transaction of $30,429.00. Following the completion of the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at $30,429. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMBC shares. Roth Mkm upgraded shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $15.00 in a research note on Wednesday, September 18th. Roth Capital raised shares of Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 18th.

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.