Clear Harbor Asset Management LLC purchased a new stake in Ambac Financial Group, Inc. (NASDAQ:AMBC) during the third quarter, Holdings Channel reports. The firm purchased 19,345 shares of the financial services provider’s stock, valued at approximately $384,000.
Other institutional investors have also bought and sold shares of the company. Bank of America Corp DE raised its holdings in Ambac Financial Group by 20.5% during the second quarter. Bank of America Corp DE now owns 2,144,160 shares of the financial services provider’s stock worth $42,562,000 after purchasing an additional 365,140 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Ambac Financial Group by 140.8% during the second quarter. Bank of New York Mellon Corp now owns 512,595 shares of the financial services provider’s stock worth $10,175,000 after purchasing an additional 299,739 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in Ambac Financial Group during the second quarter worth $5,799,000. Natixis acquired a new position in Ambac Financial Group during the second quarter worth $5,671,000. Finally, Millennium Management LLC acquired a new position in Ambac Financial Group during the second quarter worth $4,544,000. Hedge funds and other institutional investors own 80.68% of the company’s stock.
Separately, BidaskClub raised Ambac Financial Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th.
Ambac Financial Group (NASDAQ:AMBC) last issued its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.21. The firm had revenue of $150.64 million during the quarter, compared to analysts’ expectations of $146.37 million. Ambac Financial Group had a return on equity of 11.70% and a net margin of 15.40%. Ambac Financial Group’s revenue was down 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.54 earnings per share.
Ambac Financial Group Profile
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to clients in public and private sectors worldwide. It offers financial guarantee insurance policies and credit derivative contracts for public finance, structured finance, and international finance. The company was founded in 1971 and is headquartered in New York, New York.
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