Globeflex Capital L P Acquires 7,222 Shares of Ambac Financial Group, Inc. (AMBC)

Globeflex Capital L P raised its holdings in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 90.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,222 shares of the financial services provider’s stock after acquiring an additional 7,222 shares during the quarter. Globeflex Capital L P’s holdings in Ambac Financial Group were worth $311,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Glen Harbor Capital Management LLC acquired a new position in shares of Ambac Financial Group during the 2nd quarter worth about $115,000. SG3 Management LLC increased its stake in shares of Ambac Financial Group by 160.0% during the 2nd quarter. SG3 Management LLC now owns 7,500 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 20,000 shares during the last quarter. Meadow Creek Investment Management LLC acquired a new position in shares of Ambac Financial Group during the 2nd quarter worth about $178,000. Algert Global LLC acquired a new position in shares of Ambac Financial Group during the 2nd quarter worth about $199,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Ambac Financial Group during the 2nd quarter worth about $210,000. Hedge funds and other institutional investors own 81.62% of the company’s stock.

Several research firms have recently weighed in on AMBC. BidaskClub upgraded shares of Ambac Financial Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 14th. ValuEngine upgraded shares of Ambac Financial Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 30th. Finally, TheStreet upgraded shares of Ambac Financial Group from a “d+” rating to a “c” rating in a research note on Wednesday, November 14th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.00.

Ambac Financial Group stock opened at $17.22 on Friday. The stock has a market cap of $787.49 million, a PE ratio of 2.69 and a beta of 1.50. Ambac Financial Group, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $23.34. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 4.74.

Ambac Financial Group (NASDAQ:AMBC) last announced its earnings results on Wednesday, November 7th. The financial services provider reported ($1.66) EPS for the quarter, missing the consensus estimate of $0.30 by ($1.96). The company had revenue of $134.00 million for the quarter, compared to the consensus estimate of $96.21 million. Ambac Financial Group had a return on equity of 15.53% and a net margin of 28.81%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted ($3.30) EPS.

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About Ambac Financial Group

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to clients in public and private sectors worldwide. It offers financial guarantee insurance policies and credit derivative contracts for public finance, structured finance, and international finance. The company was founded in 1971 and is headquartered in New York, New York.

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Institutional Ownership by Quarter for Ambac Financial Group (NASDAQ:AMBC)

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