Evermore Global Advisors LLC raised its position in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 34.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 964,587 shares of the financial services provider’s stock after buying an additional 247,634 shares during the period. Ambac Financial Group comprises approximately 7.5% of Evermore Global Advisors LLC’s investment portfolio, making the stock its 6th largest position. Evermore Global Advisors LLC’s holdings in Ambac Financial Group were worth $16,736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its position in Ambac Financial Group by 27.2% in the first quarter. BNP Paribas Arbitrage SA now owns 10,474 shares of the financial services provider’s stock worth $198,000 after buying an additional 2,237 shares in the last quarter. Nine Chapters Capital Management LLC acquired a new position in Ambac Financial Group during the first quarter worth approximately $270,000. Schroder Investment Management Group acquired a new position in Ambac Financial Group during the first quarter worth approximately $266,000. Gargoyle Investment Advisor L.L.C. raised its position in Ambac Financial Group by 6.2% in the first quarter. Gargoyle Investment Advisor L.L.C. now owns 16,700 shares of the financial services provider’s stock worth $315,000 after buying an additional 981 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its position in Ambac Financial Group by 79.0% in the first quarter. Tudor Investment Corp ET AL now owns 18,800 shares of the financial services provider’s stock worth $355,000 after buying an additional 8,300 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

Ambac Financial Group, Inc. (AMBC) opened at 18.37 on Wednesday. The firm’s market capitalization is $831.26 million. Ambac Financial Group, Inc. has a 1-year low of $15.67 and a 1-year high of $27.25. The firm has a 50-day moving average of $18.82 and a 200-day moving average of $18.94.

Ambac Financial Group (NASDAQ:AMBC) last issued its earnings results on Wednesday, August 9th. The financial services provider reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.32. The company had revenue of $172.85 million for the quarter, compared to analysts’ expectations of $127.75 million. Ambac Financial Group had a negative net margin of 16.39% and a positive return on equity of 5.74%. The firm’s revenue was up 36.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.54 earnings per share. On average, analysts expect that Ambac Financial Group, Inc. will post $0.70 earnings per share for the current year.

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A number of research analysts have commented on the stock. MKM Partners restated a “neutral” rating and issued a $21.00 price objective (up from $17.00) on shares of Ambac Financial Group in a research note on Tuesday, July 25th. BTIG Research restated a “buy” rating and issued a $26.00 price objective on shares of Ambac Financial Group in a research note on Saturday, July 22nd.

In other Ambac Financial Group news, CEO Claude Leblanc bought 7,500 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were bought at an average cost of $16.45 per share, with a total value of $123,375.00. Following the completion of the acquisition, the chief executive officer now owns 25,400 shares of the company’s stock, valued at $417,830. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

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

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