Ambac Financial Group, Inc. (NASDAQ:AMBC)’s share price was up 8.9% during mid-day trading on Friday . The company traded as high as $15.83 and last traded at $15.80. Approximately 958,500 shares traded hands during mid-day trading, an increase of 171% from the average daily volume of 353,424 shares. The stock had previously closed at $14.51.

Separately, MKM Partners reaffirmed a “hold” rating on shares of Ambac Financial Group in a research report on Thursday, October 5th.

The company has a market capitalization of $714.97, a PE ratio of -1.80 and a beta of 1.88. The company has a debt-to-equity ratio of 7.46, a quick ratio of 0.38 and a current ratio of 0.38.

Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings results on Wednesday, November 8th. The financial services provider reported ($3.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($4.22). The firm had revenue of $132.97 million for the quarter, compared to analyst estimates of $125.84 million. Ambac Financial Group had a negative net margin of 60.33% and a negative return on equity of 9.68%. The business’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.23 earnings per share.

In other news, CEO Claude Leblanc purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The shares were acquired at an average cost of $16.64 per share, with a total value of $249,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director C James Prieur purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average cost of $14.02 per share, for a total transaction of $140,200.00. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. EJF Capital LLC raised its position in shares of Ambac Financial Group by 41.4% during the 3rd quarter. EJF Capital LLC now owns 2,371,788 shares of the financial services provider’s stock valued at $40,937,000 after acquiring an additional 695,000 shares in the last quarter. State Street Corp raised its position in shares of Ambac Financial Group by 3.4% during the 2nd quarter. State Street Corp now owns 898,162 shares of the financial services provider’s stock valued at $15,583,000 after acquiring an additional 29,767 shares in the last quarter. Sessa Capital IM L.P. raised its position in shares of Ambac Financial Group by 1.4% during the 3rd quarter. Sessa Capital IM L.P. now owns 601,585 shares of the financial services provider’s stock valued at $10,383,000 after acquiring an additional 8,400 shares in the last quarter. Northern Trust Corp raised its position in shares of Ambac Financial Group by 1.8% during the 2nd quarter. Northern Trust Corp now owns 557,464 shares of the financial services provider’s stock valued at $9,671,000 after acquiring an additional 9,897 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Ambac Financial Group by 5.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 382,266 shares of the financial services provider’s stock valued at $6,598,000 after acquiring an additional 20,242 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

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About Ambac Financial Group

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.

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