Royce & Associates LP reduced its stake in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 55.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,821 shares of the financial services provider’s stock after selling 121,700 shares during the quarter. Royce & Associates LP owned about 0.22% of Ambac Financial Group worth $1,715,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Harbor Advisors LLC lifted its stake in shares of Ambac Financial Group by 2.2% in the first quarter. Harbor Advisors LLC now owns 230,617 shares of the financial services provider’s stock worth $4,349,000 after acquiring an additional 5,000 shares during the period. Evermore Global Advisors LLC lifted its stake in shares of Ambac Financial Group by 5.6% in the first quarter. Evermore Global Advisors LLC now owns 716,953 shares of the financial services provider’s stock worth $13,522,000 after acquiring an additional 38,000 shares during the period. Tudor Investment Corp ET AL lifted its stake in shares of 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 acquiring an additional 8,300 shares during the period. State Street Corp lifted its stake in shares of Ambac Financial Group by 0.8% in the first quarter. State Street Corp now owns 868,395 shares of the financial services provider’s stock worth $16,381,000 after acquiring an additional 6,732 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Ambac Financial Group in the first quarter worth approximately $755,000. 72.95% of the stock is currently owned by institutional investors.

Ambac Financial Group, Inc. (NASDAQ:AMBC) opened at 18.13 on Thursday. Ambac Financial Group, Inc. has a 52 week low of $15.67 and a 52 week high of $27.25. The firm’s market capitalization is $820.40 million. The firm has a 50-day moving average price of $18.87 and a 200 day moving average price of $18.47.

Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.32. Ambac Financial Group had a positive return on equity of 5.74% and a negative net margin of 16.39%. The business had revenue of $172.85 million for the quarter, compared to analyst estimates of $127.75 million. During the same period last year, the company earned $2.54 EPS. Ambac Financial Group’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, equities research analysts forecast that Ambac Financial Group, Inc. will post $1.63 earnings per share for the current fiscal year.

A number of equities analysts recently commented on the company. MKM Partners reaffirmed 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 reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Ambac Financial Group in a research note on Saturday, July 22nd.

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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.

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

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