Hotchkis & Wiley Capital Management LLC Raises Stake in Ambac Financial Group, Inc. (NYSE:AMBC)

Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 19.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 744,750 shares of the company’s stock after purchasing an additional 123,360 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Ambac Financial Group were worth $8,349,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMBC. Quarry LP lifted its stake in shares of Ambac Financial Group by 830.7% in the 2nd 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 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 worth $64,000 after acquiring an additional 4,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ambac Financial Group by 20.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock worth $126,000 after acquiring an additional 1,637 shares during the period. Creative Planning acquired a new stake in shares of Ambac Financial Group in the 3rd quarter worth $156,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Ambac Financial Group in the 3rd quarter worth $185,000. 84.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ambac Financial Group

In other Ambac Financial Group news, Director Kristi Ann Matus purchased 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, with a total value of $30,429.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at approximately $30,429. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is owned by insiders.

Ambac Financial Group Stock Performance

Shares of NYSE AMBC opened at $12.79 on Thursday. Ambac Financial Group, Inc. has a 12 month low of $10.12 and a 12 month high of $18.45. The company has a 50-day simple moving average of $11.76 and a 200-day simple moving average of $12.36. The company has a market cap of $606.80 million, a PE ratio of -27.80 and a beta of 1.25. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58.

Analyst Upgrades and Downgrades

AMBC has been the subject of several recent analyst reports. Roth Mkm upgraded shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.00 to $15.00 in a research note on Wednesday, September 18th. StockNews.com cut shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Finally, 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.

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.