Intech Investment Management LLC Grows Stock Position in Ambac Financial Group, Inc. (NYSE:AMBC)

Intech Investment Management LLC raised its holdings in Ambac Financial Group, Inc. (NYSE:AMBC) by 47.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,708 shares of the company’s stock after buying an additional 7,644 shares during the quarter. Intech Investment Management LLC’s holdings in Ambac Financial Group were worth $266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMBC. Quarry LP boosted its position in shares of Ambac Financial Group by 830.7% in the second quarter. Quarry LP now owns 2,364 shares of the company’s stock worth $30,000 after acquiring an additional 2,110 shares during the last quarter. nVerses Capital LLC boosted its holdings 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ambac Financial Group by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock valued at $126,000 after buying an additional 1,637 shares during the period. Creative Planning purchased a new position in shares of Ambac Financial Group in the 3rd quarter worth $156,000. Finally, SG Americas Securities LLC acquired a new position in Ambac Financial Group in the third quarter valued at $185,000. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Trading Up 0.2 %

AMBC opened at $12.82 on Friday. The firm’s 50 day moving average is $11.79 and its 200-day moving average is $12.37. Ambac Financial Group, Inc. has a 52-week low of $10.12 and a 52-week high of $18.45. 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 has a market capitalization of $608.18 million, a P/E ratio of -27.80 and a beta of 1.25.

Insider Buying and Selling

In related news, Director Kristi Ann Matus acquired 2,700 shares of Ambac Financial Group stock in a transaction 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 purchase, the director now directly owns 2,700 shares of the company’s stock, valued at $30,429. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com cut Ambac Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Roth Capital upgraded shares of Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, Roth Mkm raised shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $15.00 in a research note on Wednesday, September 18th.

Ambac Financial Group Company 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.