Western Standard LLC Invests $3.09 Million in Ambac Financial Group, Inc. (NYSE:AMBC)

Western Standard LLC purchased a new stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 275,963 shares of the company's stock, valued at approximately $3,094,000. Ambac Financial Group comprises approximately 2.9% of Western Standard LLC's holdings, making the stock its 15th largest holding. Western Standard LLC owned 0.58% of Ambac Financial Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Creative Planning acquired a new stake in Ambac Financial Group in the third quarter worth approximately $156,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Ambac Financial Group in the second quarter valued at $1,149,000. Marshall Wace LLP boosted its stake in Ambac Financial Group by 397.4% during the second quarter. Marshall Wace LLP now owns 345,715 shares of the company's stock valued at $4,432,000 after buying an additional 276,210 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Ambac Financial Group by 55.1% during the third quarter. Exchange Traded Concepts LLC now owns 157,714 shares of the company's stock worth $1,768,000 after acquiring an additional 56,036 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Ambac Financial Group by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,952,961 shares of the company's stock worth $37,857,000 after acquiring an additional 87,077 shares in the last quarter. 84.49% of the stock is currently owned by institutional investors and hedge funds.

Ambac Financial Group Stock Down 1.1 %

NYSE:AMBC traded down $0.14 during trading hours on Friday, reaching $12.68. The company's stock had a trading volume of 191,601 shares, compared to its average volume of 466,573. Ambac Financial Group, Inc. has a one year low of $10.12 and a one year high of $18.45. The business's 50-day moving average is $11.82 and its 200-day moving average is $12.37. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $601.54 million, a price-to-earnings ratio of -27.87 and a beta of 1.25.

Wall Street Analysts Forecast Growth

AMBC has been the topic of several recent research reports. Roth Mkm upgraded shares of Ambac Financial Group from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th. Roth Capital upgraded Ambac Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 18th. Finally, StockNews.com downgraded Ambac Financial Group from a "hold" rating to a "sell" rating in a research note on Wednesday, August 14th.

Insider Activity

In other news, Director Kristi Ann Matus bought 2,700 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average cost of $11.27 per share, for a total transaction of $30,429.00. Following the purchase, the director now owns 2,700 shares of the company's stock, valued at $30,429. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.00% of the stock is currently owned by insiders.

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.